Question: This problem contains 2 questions Please note: Your response for the first question is text format and the response to the second question should be

This problem contains 2 questions

Please note: Your response for the first question is text format and the response to the second question should be formatted as: $1,250,000.00

A project has been deferred to start at the end of 4 years from now when the start up costs will increase to $80,000. The managerhas decided to save money for the project by depositing $15,000 at the end of each year into a bank account that pays interest at 15% compounding semi-annually. If there is no withdrawal, find

the amount of money the manager will get from this bank account at the end of 4 years=
the effective annual rate =

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