Q3) An Engineer deposited $12,000 in a bank saving account that pays 3% per quarter. (30 marks) At time to an engineer deposited $200,000 into an account that pays interest at 11.99526% per year compounded weekly. The Engineer started by withdrawing S1000 in mouth 6, S1500 in month 7. $2000 in month 8....and so on for 2 years: # Draw the cash flow diagram, b. What is the remaining balance at the end of the three years? c. Find the effective yearly and effective monthly interest rates? (Note: the month includes 4 weeks, the year includes 48 weeks) make approximation without interpolation Q3) An Engineer deposited $12,000 in a bank saving account that pays 3% per quarter. (30 marks) At time to an engineer deposited $200,000 into an account that pays interest at 11.99526% per year compounded weekly. The Engineer started by withdrawing S1000 in mouth 6, S1500 in month 7. $2000 in month 8....and so on for 2 years: # Draw the cash flow diagram, b. What is the remaining balance at the end of the three years? c. Find the effective yearly and effective monthly interest rates? (Note: the month includes 4 weeks, the year includes 48 weeks) make approximation without interpolation