MOCKEXAMMCQ1 Maicolm wants to purchase an annuity that will pay him $7,000 at the end of every three months for 15 years. His financial advisor has told Maicolm that this annuity will cost him $250,000. What monthly compounded nominat interest rate was used in this calculation? a. 9.3% b. 7.51% c. 22.67% d. 18.89% e. 12.60%