What are the nominal and effective annual rates for an account paying 9% compounded as follows? Note that there are 365 days per year.
a) Nominal rate: 9%; Effective annual rate: 9.33%
b) Nominal rate: 9%; Effective annual rate: 9%
c) Nominal rate: 9%; Effective annual rate: 8.73%
d) Nominal rate: 9%; Effective annual rate: 9.10%
