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4 ) You deposit $ 5 , 0 0 0 into a savings account. 1 5 months later later, you deposit another $ 2 ,
You deposit $ into a savings account. months later later, you deposit another $
months after that, you deposit $
The account earns interest at a nominal rate of compounded quarterly for the first two years.
After that, the nominal rate increases to still compounded quarterly. points
a How much is in the account at the end of years?
b What is the equivalent annual effective interest rate earned
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