2. (a) Calculate the effective annual rate on an investment that offers a return of 4.8% per year but has monthly compounding. Round your answer to the nearest 100th of a percent. (b) Re-do the calculation with quarterly compounding. (c) Re-do again with semi-annual compounding. (d) Go back to the conditions in part a and answer this question: How much would your investment be worth five years from now if you invest $1000 today?