Q3. a) The accountant of Crystal Credit Union proposes changing the method of compounding interest on pro savings accounts to yearly compounding. If the current rate is 8%.compounded quarterly, wita nominal rate should the treasurer suggest to the Board of Directors to m the treasurer suggest to the Board of Directors to maintain the same effective rate of interest? b) Calculate the nominal rate of interest compounded semi-annually that is equivalent to 8.4% compounded monthly. SOL: a) 3 1 7 Y. - 90