Part I: Creating a Proposal After a number of years of saving up all your pennies you have finally reached a total amount of $6,000. You have decided to put your money into a savings account. After an extensive amount of research you have the following options to choose from: . Bank 1 offers a 7% annual interest rate compounded monthly. . Bank 2 offers a 7% annual interest rate compounded quarterly. . Bank 3 offers a 7% annual interest rate compounded weekly. 1.Decide which bank is the best option to open a savings account for one year. Show all your work to justify your answer. 2. Decide which bank is the best option to open a savings account for 10 years. Show all your work to justify your answer. 3. How much money would you make from saving $6000 in the bank selected after 10 years