In order to encourage long term saving among Kenyan youth, an innovative investment product has been launched by one of the leading commercial banks in Kenya. The features of this investment product are as follows; 8% pa compounded annually in the first 7 years. . 10% pa compounded semi-annually after the 7th year upto the 15th year. . 12% pa compounded quarterly after the 15th year. Upon celebrating his 30th birthday, Alex intend to invest a sum of money with this calibrated investment scheme in anticipation to raise Kshs 30,000,000 at the attainment of 55 years. 1. Evaluate the percentage growth of the investment during the period under consideration. 2.Formulate the effective interest rate for these investment. 3.Account for any assumptions made in this investment scheme.