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Your baak accoent pays a 6 % noeninal rate of intevest. The interest is compounded quarterly. Which of the following statements is CORRECT? The periodic

Your baak accoent pays a 6% noeninal rate of intevest. The interest is compounded quarterly. Which of the following statements is CORRECT?
The periodic rate of interest is 1.5% and the effective rate of interest is 3%.
The perfodic rate of interest is 6% and the effective rate of interest is greater than 6%.
The periodic rate of interent is I.5% and the eflective rnte of interest is greater than 6%.
The periodic rate of interent is 34? and the effective rate of interest is 6%.
The periodic rale of interest is 625 and the efflective rate of indeveut is also 696
Your baak accoent pays a 6 % noeninal rate of

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