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Suppose that Anna invests $104 into an account that earns interest for the first 8 years at a nominal annual rate of i% compounded semiannually.

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Suppose that Anna invests $104 into an account that earns interest for the first 8 years at a nominal annual rate of i% compounded semiannually. After the first 8 years the account earns interest according to a nominal annual discount rate of i% compounded quarterly. At the end of 12 years the amount in the account has accumulated to $154. Determine the value of i as a percentage. (A) 2.76 (B) 3.28 (C) 3.02 (D) 3.15 (E) 2.89 Select

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