A worker makes bi-weekly (i.e., once every two weeks) deposits of $50 to a bank account that earns 3% interest compounded continuously. Assume 52 weeks in a year.
(a) After 5 years. what amount of money can be withdrawn from the account'!
(b) What is the effective rate of interest for one year?
(c) What is the nominal rate of interest for 5 years?
(d) What is the effective rate of interest for 5 years?
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