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 You are considering three alternative banks in which to open a savings account

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 You are considering three alternative banks in which to open a savings account. The first bank offers you an annual rate ri, and the interest is paid monthly. The second bank offers a rate r2, and the interest is paid daily. The third bank offers a rate r3, and it offers continuous compounding. Give all answers to four decimal places. 1st attempt Part 1 (1 point) See Hint Suppose you were to save $500.0000 in the first bank. The interest rate is r? = 7.0000%. Three years from now, you should have $
Part 2 (1 point) See Hint Suppose you were to save $500.0000 in the second bank. The interest rate is r2 = 4.0000%. Three years from now, you should have $ Part 3 (1 point) See Hint Suppose you were to save $500.0000 in the third bank. The interest rate is r3 = 1.0000%. Three years from now, you should have $
Part 4 (1 point) See Hint Let the interest rate in the first bank beri = 7.0000%, and you are considering saving your money for 3 years. The interest rate from the second bank that would make you indifferent between the first and second bank is r2 = %. Part 5 (1 point) See Hint Let the interest rate in the third bank be r3 = 1.0000%, and you are considering saving your money for 3 years. The interest rate from the first bank that would make you indifferent between the first and third bank is ri = %.