$2$

Cousin Berta invested $$120,000$ twelve years ago at $16$ percent, compounded quarterly

$25$ poets

How much has she accumulated $($Use a Financial calculator to arrive at the answer. Round the final answer to the nearest whole dollar$)$

Future value

b$.$ What is her effective annual interest rate $($rate of return? Use & Financial calculator to arrive at the answer. Round the final answer decimal places$)$ to $2$

Effective annual interest rate