Question

An Engineer deposited $12,000 in a bank saving account that pays 3% per quarter. a) How...

An Engineer deposited $12,000 in a bank saving account that pays 3% per quarter.

a) How much money the engineer will find in his account after 4 years?

b) What will be the effective interest rate per six months?

c) What will be the effective interest rate per year?

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