(a) CK university established a scholarship fund supported by the interest earned from a $150,000 investment at an interest rate of 10% per year compounded continuously. What is the amount of scholarship provided at the end of every 2 years?

(b) Suppose Bank XYZ offers an investment plan with a nominal rate of 4.0% compounded monthly while Bank ABC offers another plan with a nominal rate of 4.02% compounded semi-annually. Which bank would you recommend for investment? (Justify your answer with reasons.)