Question: #15 the answer 5.8% i s provided for us. I need step by step work that shows how we got this answer. Financial calculators and

#15 the answer 5.8% is provided for us. I need step

#15 the answer 5.8% is provided for us. I need step by step work that shows how we got this answer. Financial calculators and excel are not allowed. Thank you!

15. An advertisement for an investment company states that a person can deposit $150 every six months into an account, and after eight years the account will have $3000. If interest is converted semiannually, determine the nominal interest rate for this savings plan to the nearest 0.1%. (5.8%) 16. A person needs $5,000 in four years. The person can afford to deposit $275 every three months into an account. Determine to the nearest 0.01% the nominal rate of interest converted quarterly that is needed to accumulate $5,000. 15. An advertisement for an investment company states that a person can deposit $150 every six months into an account, and after eight years the account will have $3000. If interest is converted semiannually, determine the nominal interest rate for this savings plan to the nearest 0.1%. (5.8%) 16. A person needs $5,000 in four years. The person can afford to deposit $275 every three months into an account. Determine to the nearest 0.01% the nominal rate of interest converted quarterly that is needed to accumulate $5,000

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