other electronic devices are not permitted. Question 5 Your savings account pays 15.54% interest rate, compounded quarterly. Which of the following is true? The periodic rate of interest is 3.89%, and the effective cate of interest is 16.47% The periodic rate of interest is 4.05% and the effective rate of interest is 17.46% The periodic rate of interest is 3,89% and the effective a te of interest is 15.48% The periodic rate of interest is 3.70% and the effective cate of interest is 15.98% The periodic rate of interest is 3.89% and the effective ate of interest is 16.80%