Question 3 O out of Find the nominal rate compounded daily that would be equivalent to an effective rate of 8.16% Selected Answer: 8.5 Correct Answer: 7.85 +0.01 Question 8 O out a Suppose that Kimberly invests $9,000, which grows at an effective rate of 9 % for 3 years. For the next 2 years grows at an effective rate of 11 %, and then for the last 5 years it grows at only 4%. Taking the entire 10 years a was the overall effective rate that she earned? Selected Answer: 24 Correct Answer: 6.86 + 0.01