quarterly (4 marks) c) Express 5% pa effective discount as a nominal annual discount rate convertible quarterly (4 marks) d) Find the annual effective discount rate equivalent to a nominal discount rate of 12% na convertible four-monthly. (4 marks) c) Ksh.250,000 is invested at a discount rato-of 18% pa convertible monthly for the first 3 months followed by an interest rate of 20% pa convertible quarterly for the next 9 months. Calculate the accumulated sum at the end of the year. (4 marks)