2.

What is the present value of a perpetuity of $ 9,896 per year given an interest rate of 8.4 %, assuming that the first cash flow occurs today? Round your answer to two decimal places and record without a dollar sign and without commas You are about to deposit $610 into one of the following savings accounts to be left on deposit for 25 years. Each bank offers an account with a different interest rate and compounding period. Assuming you want to maximize your wealth, how much money would be in the bank account that offers the best effective rate of return after 25 years? BANK A: 9.5 percent rate compounded semi-annually BANK B: 9.4 percent rate compounded monthly BANK C: 9.3 percent rate compounded daily BANK D: 9.2 percent rate compounded continuously (Enter the dollar amount only - do NOT enter the bank letter. Round your answer to 2 decimal places and record your answer without a dollar sign and without commas)