Your bank is currently offering a special savings account rate of 4.5% (compounded monthly) for members.

If you make an initial deposit of $30,000 into this account, what will be the account balance in 4 years?

How much would you have to deposit (in a one-time deposit) to have $40,000 in 3 years?

What is the effective interest rate of this account?

Round your answer to the nearest hundredth of a percent.