1.) Steptoe's bank account has a floating interest rate on certain deposits (the interest rate is adjusted every year). That is, every year the interest rate is adjusted. Four years ago, Steptoe deposited $35,000 into the bank account, when interest rates were 6 percent. The following year, the rate was 6.5 percent; last year, the rate was 8 percent; and this year, the rate fell to 7.5 percent. How much will be in Steptoe's account at the end of the year? Assume annual compounding