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Q2 Changing Interest Rates Sanaa has been saving money in the same account for 20 years. She started with $2750. For the first 4 years,

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Q2 Changing Interest Rates Sanaa has been saving money in the same account for 20 years. She started with $2750. For the first 4 years, the account paid j(52) = 3% . For the next 5 years, it paid j(52) = 5%. For the last 11 it paid j(52) = 2% compounded. a) How much money is in her account today? b) Suppose the account had paid the same effective annual rater for all 20 years, and that her starting balance and ending balance were as above. Solve for r (to 2 decimal places). (If your answer is 3.06% write 3.06 not 0.0306.) c) Write the formula you used to compute your answer to b)

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