Suppose, you invest $$500$ in an account that pays a nominal rate of $12\%,$ compounded quarterly. What is the periodic rate $()?$ How much would you earn $($FV$)$ after five years?

Question $6$ options:

$=4\%$ and $$904$

$=4\%$ and $$1,000$

$=3\%$ and $$903$

$=3\%$ and $$910$