Determine the effective rate per compounding period CP for each of the following:
(a) 12\% per year, compounded monthly
(b) 12\% per year, compounded quarterly
(c) 5\% per 6-month, compounded weekly
Determine the effective rate per compounding period CP for each of the following:
(a) 12\% per year, compounded monthly
(b) 12\% per year, compounded quarterly
(c) 5\% per 6-month, compounded weekly