suppose you receive the following end-of-year cash bonuses at work: end of year 2: $4,000 end of year 4: $6,000 end of year 6: $10,000 end of year 8: $12,000 If you invest your bonuses and earn 8% on your investments, how much will you have at the end of year 12?

53,202

$51,936

$64,374

$58,521

$62,106

2.

You have $10,000 deposited in a savings account. The money has been earning an annual rate of 12% interest, compounded quarterly. What is your effective annual rate of interest?

12%

13.30%

12.55%

12.25%

11.65%