When Josie left her old job - at age 47, she transferred $62,000 into an IRA account at the credit union of her new employer. The money has been invested there for the last 18 years, and now Josie is ready to retire. Her account has been earning 6% interest, compounded quarterly during the entire time. How much money can Josie take out in a lump-sum right now? Suppose that Josie has $130,000 left after taxes from her IRA. She puts the entire balance into a savings account at a local bank, where she invests it at a 5% nominal rate, compounded monthly. To supplement her social security pension, she wants to take monthly payments of $1,000 at the end of each month as long as the money lasts. How many months will she be able to do so? At the end of the year, Josie's accountant asks her what effective rate of interest she is earning at the bank. It may be possible for her to switch banks in order to get a better rate. What should Josie tell her accountant