QUESTION 7 1pointsSave Answer Pacific Bank pays a 4.50% nominal rate on deposits with monthly compounding what effective annual rate EFF%) does the bank pay? a 5.56% b. 4.59% Oc. 5.05% Od. 3.72% e, 4.13% QUESTION 8 1 points Save Answer what's the future value of $1,500 after 5 years if the appropriate interest rate is 6%, compounded semiannually? Oa. $2,223 O b.$1,915 Oc. $2,117 O d.$2,016 e.$1,819