Bassel is comparing two accounts where one pays 3.45% quarterly and the second pays 3.4% daily. a. What is the effect rate for each? b. If he has $5,000 to deposit how much will the balance be in 10 years? Bill invests $6,700 in a savings account that compounds interest monthly at a rate of 3.75%. Ted invests $6,500 in a savings account that compound interest annually at a rate of 3.8%. a. Find the effective rate for each account. b. Who will have the higher accumulated balance after 5 years? Please show work, preferably in excel. Thank you.