${?}^1$ Why did I pick Truist and BoA? For Truist, there's a lot of them, all the items were on one page, and they still have a Money

Market. However, they did not list CD rates. Bank of America no longer offers a Money Market but lists their CD rates. They

also offer low deposit minimums on CDs from $28-120$ day CDs$.$

While the $7-$month CD has the best return, you decide $$28$ is not worth limiting access to $$1000.$

However, $3$ times the amount of interest on the $30-$day CD is a good way to keep access to your money

and offers you a chance to save more. You decide each month $($a$.$k $.$a$.30$ days$)$ to allow your CD to be

renewed and add $$50$ to the balance.

After $5$ years, assuming an initial deposit of $$1000,$ monthly deposits of $$50,$ and a compounded

monthly interest rate of $0\mathrm{.}03\%,$ how much money will be in the account? How much is interest?

Disgusted by the low rates, you return to the BoA Fixed Term CD rates. You see a $90-179$ day CD for

$3\mathrm{.}93\%.$ You find that a $90-$day $($aka$,$ a $3-$month CD$),$ with $3\mathrm{.}93\%$ compounded monthly, will result in $$9\mathrm{.}86$

in interest at the end of the term if you start with $$1000.$ You decide to invest your money in that for $3$

months. At the end of each term, you will roll over the funds AND add $$100.$

Use Excel to find the total amount of money in the account after $5$ years. $($hint: $5$ years would be $15$

renewals. Find the first period. Use that answer plus the $100$ to be the principal for the second period

in the next row. Repeat the process using formulas.$)$