1 You are put in charge of managing your firms working capital. Your firm has $ 100,000 in extra cash on hand and decides to put it in a savings account 7% interest. How much will you have in your account in 15 years under the following compounded periods;

(a) Compounded annually

(b) Compounded monthly

(c) Compounded 5 times per year.

(d) Compounded continuously.