Nathan invests $1000 into an account earning interest at an annual rate of 4.7%, compounded annually. 4 years later, he finds a better investment opportunity. At that time, he withdraws his money and then deposits it into an account earning interest at an annual rate of 6.6%, compounded annually. Determine the value of Nathan's account 11 years after his initial investment of $1000.
2) Allie invests some amount of money into an account that earns interest at an annual rate of 5.8%, compounded semiannually. If the account is worth $2198.77 after 3.5 years, find the value of the account 2.5 years after the money was invested
3) An account earns interest at an annual rate of 6.38%, compounded monthly. Find the effective annual interest rate (or annual percentage yield) for the account.
4) An account earns interest at an annual rate of 4.81%, compounded quarterly. Find the effective annual interest rate (or annual percentage yield) for the account.