Q3) An Engineer deposited $12,000 in a bank saving account that pays 3% per quarter. (30 marks) a) How much money the engineer will find in his account after 4 years. b) What will be the effective interest rate per six months? c) What will be the effective interest rate per year? Q4) - 30 Marks a) How many years it will take a S 5000 to triple in a bank that pays 8% per year? b) If you pay Insurance cost for a certain machine $ 1500 at the end of the first year increased by g = 8% per year, how much you will pay at the end of the fourth year. c) IF you took a loan (85000) from a bank and agreed to pay off the loan in 5 equal end of year payments starting the end of the first year. Each payment equals $ 1155. How much was the interest rate (i/year) the bank charging you? Good Luck