Question: nominal and effective rates Question 1 30 pts Answer the questions below, upload your answer. Please show a neat and clean paper with clear solutions

nominal and effective rates

Question 1 30 pts Answer the questions below, upload your answer. Please show a neat and clean paper with clear solutions 1. What effective rate is equivalent to 8%4% converted bimonthly? 2. At what rate, compounded quarterly, will a principal accumulate to the amount as the 13.8% compounded bimonthly? 3. At what nominal rate, compounded monthly, will a principal yield an interest that is equivalent to an effective rate of 18%

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