Answer
a) $6 \%$
b) $6.136 \%$
c) $6.183 \%$
Work Step by Step
(a) The effective annual rate for an account paying $6\%$ compounded annually is $6 \%$
(b) The interest rate per quarter is $6/ 4$. Therefore, the effective interest rate is
$$i= \left(1+\frac{6}{4}\right)^{4}-1= 6.136\%$$
(c) The interest rate per day is $6/ 365$. Therefore, the effective interest rate is
$$i= \left(1+\frac{6}{365}\right)^{365}-1= 6.183 \%$$
