A savings account pays interest at the rate of 5 percent per year with interest compounded monthly. (a) If $50 is deposited into the account every month for 60 months, find the balance in the account at the end of the 60 months. Assume that the money is deposited on the first day of the month so that, at the end of the month, an entire month's interest has been earned. (b) If no deposits are made for the next 60 months, find the account balance at the end of the next 60- month period. (c) Instead of being compounded monthly, suppose that the bank offers to compound the interest daily. Compute the account balance at the end of 60 months and 120 months and compare your balances with those obtained when the interest is compounded monthly