MATHS: URGENT WITH EXPLANATION

EXERCISE 4 4. [2.5 points in total] Three banks in a town quote the following nominal interest rates: Bank A pays interest on savings account at 4.5% compounded continuously, Bank B pays 4.75% on a savings account compounded monthly and Bank C pays 4.6% on a savings account compounded quarterly. a. [1.5 points] Which bank pays its savers the lowest interest? im Note, AI in - 1 APR = ei 1 b. [1.0 point] If you invest 10000 in Bank B, how long should it take to increase by 30%