You have $15,000 in the bank comfortably earning 48% interest compounded monthly. Your cousin needs $15,000 to buy a new car. In order to get the same total return, what interest rate r should you request from him if the money you lend him is to be compounded continuously? Exact interest rate (without using a calculator), r = Interest rate, as a percent, rounded to 2 decimal places = % Submit Answer 11. [-/1 Points] DETAILS MY NOTES Math 110 Course Resources Compound Interest Course Packet on the effective rate of interest Find the effective interest rate corresponding to a nominal interest rate of 16% compounded quarterly. Effective interest rate (without using a calculator), reff Effective interest rate, as a percent, rounded to 2 decimal places %