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2. An investment earns a 7% annual interest rate. (a) Calculate the quarterly (3-month) effective rates for the periods [0.50,0.75] and [1.50,1.75] assuming compound interest. (b) Calculate the quarterly (3-month) effective rates for the periods [0.50, 0.75] and [1.50,1.75] assuming simple interest. (c) Compare the effective rates computed in parts (a) and (b). Do your answers make sense given the behavior of the accumulation functions for compound and simple interest