Kathryn deposits 1000 into an account at the beginning of each 2-year period for 20 years. The account credits interest

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answerhappygod
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Kathryn deposits 1000 into an account at the beginning of each 2-year period for 20 years. The account credits interest

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Kathryn deposits 1000 into an account at the beginning of each
2-year period for 20 years. The account credits interest at an
annual effective interest rate of 4%. Find the accumulated value
in her account at 20 years. What is the effective 2-year
interest rate?
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