Find the nominal rate jm equivalent to the annual effective rate j, if (a) j= 6%, m = 2; (b) j = 9%, m = 4; (c) j = 10%, m = 12; (d) j = 17%, m = 365; (e)j = 8%, m = 52; j = 11.82%, m = 00. Ans. (a) 5.91%; (b6) 8.71%; (e) 9.57%; (d) 15.70%; (e) 7.70%: A consumer buys goods worth $1500, paying $500 down and $500 at the end of 6 months. If the store charges interest at j1a = 18% on the final payment will be necessary at the end of one year? ​