Melvin Indecision has difficulty deciding whether to put his savings in Mystic Bank or Four Rivers Bank. Mystic offers 16% interest compounded semiannually. Four Rivers offers 8% interest compounded quarterly. Melvin has $12,100 to invest. He expects to withdraw the money at the end of 4 years. Calculate interest for each bank and identify which bank gives Melvin the better deal? (Use the Table provided.) (Do not round intermediate calculations. Round your answer to the nearest cent.) Interest 2$ Mystic 2$ Four Rivers (Click to select) Better deal Future value interest factor of $1 per period at 1% for n periods, FVIF(i,n). Period 05N 1,0000 1.0100 1.0150 1.0200 1.0100 1.0201 1.0302 1.0404 1.0151 10303 1.0457 1.0512 1.0202 1.0406 1.0614 1.0824 1.0253 1.0510 1.0773 1.1041 1.0304 10615 1.0934 1.1202 1.0355 10721 1.1098 1.1487 1.0407 1.0829 1.1265 1.1717 1.0459 1.0937 1.0511 1.1045 1.1605 12190 1.0564 1.1157 1.1779 1.2434 1.0617 1.1268 1.1956 1.2682 1.0% 15% 20% 2.5% 1.0250 1.0506 1.0769 1.1038 30% 1.0300 3.5% 1.0350 1,0009 1.0712 1.1087 4.0% 4.5% 5 0% 5.5% 1.0550 1.1130 1.1742 6.0% 1.0600 1.1236 1.1910 12625 6.5% 1,0550 1.1342 7 0% 1.0700 1.1449 7.5% 1.0750 1.1556 12423 1.3355 1.4356 1.5433 1. 10450 8.0% 8.5% 90% 10900 1.1081 9.5% 1.0950 1.0400 10.0% 1.1000 1.0500 1.0800 1.1664 1.0816 1.0920 1.0850 1.1025 1.1576 1.2155 12763 1.1772 1.1249 1.1699 12167 1.2653 1.0927 1.1412 1.1990 12100 1.2079 1.2250 12597 12773 12950 1.3129 14377 1.1255 1.1475 1.1925 1.3310 13100 1.4026 1.5007 1.2388 1.2865 13605 14693 1.3859 14116 1.5386 1.1314 1.1593 1.1877 1.2293 12723 1.3168 1.2462 1.3070 13382 1.3701 14641 1.5037 1.1597 1.1887 1.2184 1.249 1.2801 1.3121 1.3449 1.5742 16105 17716 19487 21436 23579 1.1941 13023 13609 1.3401 1.3788 14185 1.4591 1.5869 16315 1.7701 1.9206 2.0039 1.6771 1.7238 10876 12299 1.3159 14071 14775 1.4547 1.5036 1.5540 1.6058 1.6590 1.7138 1.8509 1.9990 21589 23316 25182 1.820 1.9926 21719 2.3674 1.2668 1.3686 1.4221 1.5347 15938 1.6895 1.7908 18983 20122 2.1329 1.6560 1.7626 1.7182 1.8385 1.9672 21049 22522 24098 25785 27590 2.9522 3.1500 3.3799 1.7835 19172 2.0010 1.1434 1.1951 2.0609 1.3048 13439 1.3842 14258 1.4685 15126 1.5500 1.6047 1.6528 1.7024 1.3629 1.4233 14861 1.5513 1.6191 10 1410614802 22632 1.5530 1.6209 1.7103 1.7959 18856 1.7001 1.8021 1.9012 20058 1.8771 2.2610 24782 2.7137 29715 25937 14600 1.5111 1.5640 16187 1.6753 17340 1.5305 1.6010 1,6651 1.7317 1.6229 1.6959 1.7722 1.0519 1.9992 2.1291 22675 22156 24532 20017 25804 12 1.0670 1.1381 1.2136 1.2935 1.0723 1.1495 1.2318 13195 15 28531 23018 25604 2.7524 28127 3.134 3.4523 13 1.3785 27196 28879 3.0658 32537 14 14130 1.4483 1.4845 1.5216 1.5597 1.9799 21161 22609 24149 29372 3.1334 3.3417 3.5629 3.7975 1.0777 1.1610 12502 1.3459 1.0831 1.1726 1.2690 1.3728 1.0885 1.1843 1.2880 1.4002 18 1.8009 1.9353 2.0789 2.1829 22920 2.4066 25270 26533 27860 2.9253 22325 23553 24848 23964 25404 26928 2.8543 3.0256 32071 33996 3.6035 2.5718 2.7390 29170 2.9589 3.1722 3.3997 3.6425 3.9703 4.3276 4.7171 5.1417 56044 6.1088 6.666 72579 7.9111 3.9013 42719 4.1772 4.5950 5.0545 16 1.8730 20224 1.9479 21134 2.0258 22085 2.1068 3.1808 3.4259 36887 17 1.7947 3.4194 3.7000 4.0023 4.6778 1.0939 1.1961 13073 14282 19 18575 1.9225 19090 2.6215 3.1067 3.6758 3.9515 42479 39060 43157 43425 47116 51120 5.5466 6.0180 65296 5.1222 1.0994 1.2081 1.3270 1.4568 1.1049 1.2202 13469 1.4859 21 1.5987 1.7535 23079 27656 29178 30782 3.2475 3.4212 36146 3.3086 3.6165 61150 20 1.6386 1.6796 1.7216 1.7646 1.8087 1.8539 1.9003 1.9478 1.8061 1.8603 1.9161 1.9736 22061 2.0328 22833 2.0938 23632 2.1566 24460 25316 2.1911 24117 3.5236 3.7527 3.9966 4.2564 4.5331 4.8277 5.1415 5.4757 58316 6.2107 3.0697 46610 6.1416 6.7251 6.7275 1.1104 12324 1.3671 1.5157 1.1160 12447 1.3876 15460 2.0594 22788 25202 4.1406 4.5664 50330 74002 8.1403 22 1.1216 1.2572 1.4084 1.5769 24 2.1315 23699 2.6337 4.4304 4.7405 5.0724 4.9089 52771 5.6729 6.0903 5.4365 7.3639 23 24647 27522 28760 3.0054 3.1407 3.2820 2.9987 34297 3.1187 3.5040 3.7453 39130 3.0715 3.8197 5.0715 1.1272 12697 1.4295 1.6084 1.1328 12824 1.4509 1.6406 0635 8.8295 25633 32251 3.364 3.5557 4.0409 63412 7.0846 25 1.1385 1.2953 1.4727 16734 27 26658 38134 4.2919 5.4274 6.845 76858 83401 9040 9.8182 8.6231 9.6684 10.8347 26 2.7725 4.0231 42444 4.4778 4.7241 4.5494 4.8223 5.8074 6.5557 7.3064 9.3902 10.2451 10.5869 11.5925 126939 13.8998 11.9182 1.1442 1.3082 1.4948 1.7069 28 22213 28834 3.7335 62139 7.0474 7.9681 131100 1.1499 1.3213 15172 1.7410 1.1556 1.3345 1.5400 1.7758 30 1.9965 22879 26202 39201 51117 66488 7.5759 8.6271 11.1671 14.4210 29 20464 5.4184 1441 8.7550 9.4116 2.3566 27119 2.8068 4.1161 7.1143 93173 10 0627 12.1722 13.2677 15.8631 174494 19.1943 10.6528 1.1614 13478 1.5631 18114 1.1672 1.3613 1.5865 1.8476 21500 3.2434 3.3731 3.5061 20076 24273 43210 45380 4.7649 5.0032 5.2533 55160 4.9840 5.7435 6.6144 7.6123 11.5583 15.2203 52501 5.5473 6.001 31 1.1730 13749 16103 1.8845 22038 25751 3.0067 33 7.0443 7.5022 7.9890 85092 9.0623 16.6662 18.2405 25001 29050 8.1451 8.7153 93253 9.9781 10.6766 11.4239 12.2236 10 8677 12.5407 14.4618 11.7371 12.6760 13.6901 32 4.0900 64534 6.8406 7.2510 7.6861 8.1473 B.6361 9.1543 9.7035 10 2857 10 9029 11.5570 12.2505 12.9855 13.7645 145905 15 4659 15.7633 17.1820 18.7284 20.4140 222512 24.2534 10.1174 136067 14.7632 16.0181 17.3796 21.1138 1.1789 1.3807 1.6345 1.9222 22589 34 10.8763 11.6920 125689 42740 23.2252 25.5477 28.1024 30.9127 34.0039 37 4043 41.1448 2.6523 27319 3.1110 3.2209 3.3336 34503 3.6484 5.8524 19.9832 1.1848 1.4026 1.6590 1.9507 23153 1.1907 1.4166 1.6839 1.9999 3.7943 3.9461 4.1039 4.2681 4.4388 21.8a16 23.9604 26.2366 44664 6.1742 4.6673 48774 6.5138 68721 7.2501 7.6408 8.0695 8.5133 8.9815 9.4755 9.9967 10.5465 11.1266 11.7385 35 1.1967 1.4300 1.7091 2.0399 1.2027 1.4451 1.7348 2.0007 23732 24325 24933 2.5557 28139 14.7853 9.6513 15.9682 172456 18.6253 20.1153 36 28983 5.7918 13.5115 18.8569 20 4507 22.198 6.0814 63855 6.7048 7.0400 7.3920 7.7616 81497 10.2706 28.7291 37 1.2087 1.4595 1.7600 21223 1.2147 1.4741 1.7872 2.1647 5.0969 14.5249 156143 16.7853 18.0442 19.3976 20 0524 2.9852 3.0748 3.1670 3.5710 3.6960 3.8254 53262 55659 58164 31.4584 34.4469 37.71 41.3027 45225 38 10.9467 13.0793 26.4357 20.8160 31.4094 34.2343 373175 40.6761 44 3370 48.3273 52.6767 57.4176 62.5852 68.2179 743575 39 12208 1.4889 1.8140 2.2080 11.6583 124161 13.9940 14.9745 16.0227 26196 4.6164 24.0857 26851 21.7245 26. 1330 283543 45 2503 40 1.2269 1.5038 1.8412 2.2522 12330 15188 1.068a 2 2972 3.2620 3.3599 34607 4.8010 4.9931 60781 5.1920 5.4005 66374 6.9361 3.9593 49.7052 54.7637 602401 66.2641 72 8905 23.4625 25 3395 27.3666 29 5560 31.9204 34 4741 37.2320 402106 434274 46.9016 41 13.2231 27522 28210 4.0978 42413 4.3097 14.0826 30.7644 42 12392 15340 1.0969 2.3432 28915 1.2454 1.5493 1.9253 2.3901 29638 1.2516 1.5648 1.9542 24379 303779 6.3516 17.1443 49.5230 183444 196285 21.0025 224726 19.2944 24.0457 25.7289 21.8842 27.5299 23.3067 29.4570 33.3794 36 2167 39.2951 426352 45.2502 50. 1912 54.4574 43 3.5645 14.9980 224163 24.0075 25 9040 27.8477 29.9343 54.2277 59.3783 65.0204 71.1973 77 9611 15.9729 5.6165 5.0412 44 3.6715 4.5433 8.5572 17.0111 45 1.2579 1.5805 1.9835 24866 3.1139 3.8950 1.2642 1.5963 20133 25363 1.2705 16122 20435 2.5871 32715 41323 4.7024 4.8669 5.0373 52136 7.2482 89050 9.4343 9.9060 3.7816 46 6.0748 75744 18.1168 3.1917 88. 1975 63178 6.5705 6.8333 47 4.0119 7.9153 12.3841 97.0172 13.0653 13.7830 14.5420 32 1815 34.5951 37.1897 16 3939 20.5485 48 49 82715 10.4013 85 3674 106.7190 10 9213 11.4674 173775 18.4202 1.2768 1.6283 2.0741 26388 3.3533 4.2562 53961 8.6437 934773 117 3909 59.0863 50 12832 1.6446 21052 26916 3.4371 55849 90326 4.3839 7.1067 MacBook Pro
