3-61 A friend was left $50,000 by his uncle. He has decided to put it into a savings account for the next year or so. He finds there are varying inter- est rates at savings institutions: 43/8% compounded annually, 41/4% compounded quarterly, and 41/8% compounded continuously. He wishes to select the savings institution that will give him the highest return on his money. What interest rate should he select?