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Let the following Interest rate 9.00%% be considered a nominal Interest rate. In your responses below, provide two decimal places (with proper rounding) and do
Let the following Interest rate 9.00%% be considered a nominal Interest rate. In your responses below, provide two decimal places (with proper rounding) and do NOT include the percent (76) sign. For example, to provide the response "two and one quarter percent," you would enter 2.25 (and not 2.25% or 0.0225). Given the nominal rate above, what is the effective interest rate when the compounding is: semiannual? quarterly? monthly
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