Problem (5): Identify the compounding period for the following interest statements: ( a ) 3% per quarter, (b ) 10% per year, compounded semiannually; ( c ) nominal 7.2% per year, compounded monthly; ( d ) effective 3.4% per quarter, compounded weekly, and ( e ) 2% per month, compounded continuously Problem (6): Equipment maintenance costs for manufacturing explosion-proof pressure switches are projected to be $100,000 in year 1 and increase by 4% each year through year 5. What is the present worth of the maintenance costs at an interest rate of 10% per year, compounded quarterly