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please show all work on how you came to answer so i can understand A bank quotes an interest rate of 3.5% per annum with

please show all work on how you came to answer so i can understand image text in transcribed
A bank quotes an interest rate of 3.5% per annum with semi-annual (twice a year) compounding. What is the equivalent rate with (a) continuous compounding and (b) annual compounding? A. Continuous - 3.94%. Annual - 4.06% B. Continuous 6.5%, Annual - 7.0% C. Continuous - 2.0%, Annual - 2.5% D. Continuous - 3.47%, Annual = 3.53%

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