5. (20 pts.) If you save 1 penny a day for 50 years, how much money will you have at the end of the 50 years for the two situations given below? Assume the money is deposited into the bank at the end of each month and that there are 30.5 days per month ( i.e., 30.5 cents are saved per month).

(a) The bank does not pay any interest.

(b) The bank pays 2% per month interest