Question: SECTION B Note: Attempt any four questions. Each question carries 5 marks. (20M) 3. How much will accumulate in an Individual Retirement Account (IRA) in

SECTION B Note: Attempt any four questions. Each question carries 5 marks. (20M) 3. How much will accumulate in an Individual Retirement Account (IRA) in 15 years if $5,000 is deposited in the account at the end of each quarter during that time? The account earns 8% interest, compounded quarterly. What is the effective interest rate

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