Question 7 6 pts Determine the effective interest in each of the following cases. 1. 10% compounded monthly 29% compounded daily 3.8% compounded continuously Question 8 8 pts You have just deposited $5,000 in an investment that will pay you $500 per year for the next 25 years starting at the end of this year. What is the annual interest rate earned for this investment, assuming annual compounding?