mt: Unit 2: Chapter 5 Knowledge Check MC.05.043 Q Search Save Microsoft Store Assignment Score: 0.00% Submit Assignment for Grading Question 4 of 10 Your bank account pays a 6% nominal rate of interest. The interest is compounded quarterly. Which of the following statements is CORRECT? a. The periodic rate of interest is 1.5% and the effective rate of interest is 3%. b. The periodic rate of interest is 6% and the effective rate of interest is greater than 6%. c. The periodic rate of interest is 6% and the effective rate of interest is also 6%. d. The periodic rate of interest is 3% and the effective rate of interest is 6%. e. The periodic rate of interest is 1.5% and the effective rate of interest is greater than 6%. Check My Work 4:13 11/5/20