Your bank account pays a 5% nominal rate of interest. The interest is compounded quarterly. Which of the following statements is CORRECT? O The periodic rate of interest is 1.25% and the effective rate of interest is greater than 5%. The periodic rate of interest is 1.25% and the effective rate of interest is 2.5%. The periodic rate of interest is 5% and the effective rate of interest is also 5%. O The periodic rate of interest is 2.5% and the effective rate of interest is 5%. The periodic rate of interest is 5% and the effective rate of interest is greater than 5%. Previous Next > ek .. S Skype for B. RR RRC Status ... Snipping To.. W Document1... G