Question 2 (2 points] As a college student, Marcus receives a quite a few new credit card offers. This week he received an offer from Nakatomi bank which offers an annual percentage rate of 16.99% to 29.99% based upon credit worthiness. John wants to understand the financial impact of this offer, but since he isn't sure of his credit rating, he has assumed the following: If his credit rating is... Excellent Good Poor Then his APR will be... 16.99% 23.49% 29.99% (a) [0.5 points] What is the effective interest rate per month for this offer for each of the three possible categories of credit rating? (b) [0.5 points] What is the effective annual interest rate for each credit rating category? (c) (0.5 point] If Marcus were to charge his Spring Break trip (total cost $2,187) today, and doesn't make a payment for nine months, how much more would John owe if he had poor credit, then if he had excellent credit? (d) [0.5 point] If Marcus decided to save his money in a high yield savings account, rather than spend it on his Spring Break vacation, how much would he have saved in nine months if the investment account earns 3.125% compounded quarterly