Jim deposits $12,000 in a bank account. a) The deposit is to earn interest annually at the rate of 9% for seven years. How much will Jim have on deposit at the end of seven years? b) Assuming the deposit earned a 9% rate of interest compounded quarterly, how much would he have at the end of seven years? c) In comparing (a) and (b), what are the respective effective annual yields? Julie can deposit $5000 at the end of each six-month period for the next 12 years and earn interest at an annual rate of 8.5%, compounded semiannually. a) What will the value of the investment be after 12 years? b) If the deposits were made at the beginning of each period, what would the value of the investment be after 12 years?