Question: Identify the following interest rate statements as either nominal or effective: (a) 1.5% per month, compounded daily; (b) 17% per year, compounded quarterly; (c) Effective

Identify the following interest rate statements as either nominal or effective:
(a) 1.5% per month, compounded daily;
(b) 17% per year, compounded quarterly;
(c) Effective 15% per year, compounded monthly;
(d) Nominal 0.6% per month, compounded weekly;
(e) 0.3% per week, compounded weekly;
(f) 8% per year.

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