QUESTIONS Your bank account pays a 6% nominal rate of interest. The interest is compounded quarterly. Which of the following statements is CORRECT? a. The periodic rate of interest is 1.5% and the effective rate of interest is 3% b. The periodic rate of interest is 6% and the effective rate of interest is greater than 6% The periodic rate of interest is 1.5% and the effective rate of interest is greater than 6% od. The periodic rate of interest is 3% and the effective rate of interest is 6% e. The periodic rate of interest is 6% and the effective rate of interest is also 6% QUESTION 6 Your bank account pays an S nominal rate of interest. The interest is compounded quarterly. Which of the following statements is CORRECT? O a. The periodic rate of interest is 2o and the effective rate of interest is 49 ob. The periodic rate of interest is 8% and the effective rate of interest is greater than $9 O The periodic rate of interest is 4% and the effective rate of interest is less than 5% d. The periodic rate of interest i 29 and the effective rate of interest is greater than 5% e. The periodic rate of interest is 8 and the effective rate of interest in alto 8%