2. Given the nominal rate of 22%

. What is the effective rate if compounded annually (10 points)

b. For the following compounding periods, fill in the blanks.

Show your work beside each row for credit (5 points each

row)

Compound PeCompound Peri%

CSA

CQ

CM

CD

C Hourly

C Minutely

C Secondly

CC

N/A