Practice Another (a) Compute the effective interest rate corresponding to a nominal interest rate of 12% compounded semiannually. Effective interest rate, as a percent, rounded to 4 decimal places = h Select the investment that offers the better return. 12% compounded semiannually 11.76% compounded daily X % (b) Compute the effective interest rate corresponding to a nominal interest rate of 11.76% compounded daily. Effective interest rate, as a percent, rounded to 4 decimal places =h X %