Question: please solve questions 8 and 9 Question 8 [1 Mark] (a) For an interest rate of 12% per year compounded quarterly, what is the effective

please solve questions 8 and 9

Question 8 [1 Mark] (a) For an interest rate of 12% per year compounded quarterly, what is the effective rate per six months? (b) For an interest rate of 3% per quarter, compounded monthly, what is the effective annual rate? Question 9 [2 Marks] (a) Find the amount of money a company could afford to spend now instead of spending $100,000 six years from now at an interest rate of 16% per year, compounded quarterly. (b) The owner of a small business borrowed $70,000 with an agreement to repay the loan with quarterly payments over a five year time period. If the interest rate is 12% per year compounded quarterly, what is his loan payment value per quarter

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