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Five banks offer nominal rates of 9% on deposits, but A pays interest annually, B pays semiannually, C pays quarterly, D pays monthly, and E

Five banks offer nominal rates of 9% on deposits, but A pays interest annually, B pays semiannually, C pays quarterly, D pays monthly, and E pays daily. Assume 365 days in a year.

What effective annual rate does each bank pay? If you deposit $6,000 in each bank today, how much will you have in each bank at the end of 1 year? 2 years? Round your answers to two decimal places.

A B C D E
EAR fill in the blank 35 % fill in the blank 36 % fill in the blank 37 % fill in the blank 38 % fill in the blank 39 %
FV after 1 year $ fill in the blank 40 $ fill in the blank 41 $ fill in the blank 42 $ fill in the blank 43 $ fill in the blank 44
FV after 2 years $ fill in the blank 45 $ fill in the blank 46 $ fill in the blank 47 $ fill in the blank 48 $ fill in the blank 49

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