$[-/1$ Points$]$

MY NOTES

$($a$)$ Compute the effective interest rate corresponding to a nominal interest rate of $11\%$ compounded semiannually.$\text{'}$

Effective interest rate, as a percent, rounded to $4$ decimal places $=\%$

$($b$)$ Compute the effective interest rate corresponding to a nominal interest rate of $10\mathrm{.}78\%$ compounded monthly.

Effective interest rate, as a percent, rounded to $4$ decimal places $=$

$($c$)$ Select the investment that offers the better return.

$11\%$ compounded semiannually

$10\mathrm{.}78\%$ compounded monthly