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Question 3 (20 pts): You have won a lottery prize of $35,000. a) How much money will accumulate in your bank account if you deposit

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Question 3 (20 pts): You have won a lottery prize of $35,000. a) How much money will accumulate in your bank account if you deposit $35,000 into a time-deposit account for 12 years and the annual interest rate is %12? b) How much money will accumulate if you put the money into a simple interest account? c) Recalculate part (a) using a compounding period that is quarterly

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