Please help me on this question. Its chapter 4 compound interest thank you.

[Akiya]

Mariam can save her money either at 9% compounded quarterly in Bank P or at 8.5% compounded monthly in Bank Q.
(i) Find the effective rate for each of the nominal rayes
(ii) Which rate yields more interest?

 

[Deleted member 4993]

Mariam can save her money either at 9% compounded quarterly in Bank P or at 8.5% compounded monthly in Bank Q.
(i) Find the effective rate for each of the nominal rayes
(ii) Which rate yields more interest?

What are your thoughts?

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[stapel]

Mariam can save her money either at 9% compounded quarterly in Bank P or at 8.5% compounded monthly in Bank Q.
(i) Find the effective rate for each of the nominal rayes
(ii) Which rate yields more interest?

a. What formula did they give you for "compound interest"?

b. For what does each of the variables stand?

c. How do the variables line up with the provided information? For instance, which variable corresponds to "9%"?

d. When you plugged the given information into the given formula, what did you obtain as your results?

e. Where are you stuck?

Please be complete, starting with your answer for question (a) above. Thank you!