Compound Interest: FV=PV(1+nr)nt Simple Ordinary Annuity (payment at END of period): FV=(Payment)((nr)(1+nr)nt1) Simple Annuity Due (payment at START of period): FV=(Payment)((nr)(1+nr)nt1)(1+nr) Question 1 A bank is offering a Super-Savers account with an annual interest rate of 6% compounded quarterly. - Anna has $1200. She plans to deposit the entire amount into a Super-Savers account for one year. - Beth plans to open a Super-Savers account and make regular deposits of $300 at the end of each quart - Cara plans to open a Super-Savers account and make regular deposits of $300 at the start of each quar Determine the total interest earned by each investor by the end of their first year. After one year, Anna will have earned in interest. After one year, Beth will have earned in interest. After one year, Cara will have earned in interest. Recall, for an ordinary annuity, the future value is given by: FV=( Payment )((nr)(1+nr)(nt)1)