Determine the amount of money in a savings account at the end of three years, given an

initial deposit of $$4,000$ and an $4$ percent annual interest rate when interest is

compounded $(a)$ annually, $($b$)$ semiannually, and $(c)$ quarterly. $($Use a Financial calculator

to arrive at the answers. Round the final answers to the nearest whole dollar.$)$

Calculate the effective annual interest rate of each compounding possibility. $($Use a

Financial calculator to arrive at the answers. Round the final answers to $2$ decimal

places.$)$

Effective annual interest rate

a$.$ Annually

b$.$ Semiannually

c$.$ Quarterly