(a) A bank account paying 8% annual interest compounded quarterly actually pays 2% interest each quarter. If $1500 is deposited when the account is opened, how much interest is earned during the first year? (b) The annual yield is slightly higher than 8% due to the compounding. What is the percent annual yield for this account? (c) Practically speaking, banks do not compound interest continuously. They tend to compound annually, semi-annually or quarterly. What would the annual yield be for this account, if the bank did compound continuously