Question $3$

Note: do not use a semi$-$annual interest rate of $2\mathrm{.}5\%$ as described in problem $3-51$

Consider problem $3-51.$ Instead of using a semi$-$annual interest rate of $2\mathrm{.}5\%,$ solve the problem using an annual interest rate of $12\%$ compounded quarterly.

What is the nominal interest rate?Blank $1$

$-$What is the annual effective interest rate?

Blank $2$

What is the effective interest rate per quarter?

Blank $3$

If Mona deposits $$15,000$ in the funds now, how much should it be worth in five years?

Blank $4$