3. (a) A savings account is paid 6.12% interest compounded monthly. Find the effective interest rate. (3 marks) (b) You plan to set up a fund which you can withdraw RM500 every 3 months for 10 years. The fund receives 3.2% of interest compounded quarterly. Find the amount of money that you should set aside for the fund at the beginning of the plan. (Give your answer to the nearest RM). (3 marks) (c) A firm secures a loan for an amount of RM120,000 for 10 years with 5.4% interest rate per year compounded monthly. How much is the unpaid balance after 4 years of loan instalment? (Give your answer to the nearest RM) (4 marks)