Average CD rates: 1984-2022 Average CD yields have fallen markedly since the 1980s 12% 10% 8% 6% 4% 2% 0 Source: Bankrate national survey 1984-2022 6-month CD 1-year CD 5-year CD 1. The graph shows how CD rates have changed over time. Use this link to view the interactive graph above. Select a date that is at least 10 years ago from the graph and write down the nominal interest rate given in the graph. You cannot use a rate that someone in the class has used, make sure you look at others' posts before you start your work. Note you can use the same year, just a different date and rate. 2. Find the effective interest rate of the CD if the interest is compounded monthly. Round your answer to five decimal places. 3. Find the amount of money you would have now if you invested $5000 at the effective interest rate compounded annually for years (where represents the amount of time that has elapsed since the time on the graph until now: use whole years to make this easier). Part 2 1. Read and respond to the posted sources of at least two (2) classmates. 2. Calculate the effective interest rate of one of your classmates' postings if interest is compounded daily. How much additional money would you have in years if you invest $5000 at this rate? 3. Optional, what would you do with the money?