Question One: 7 marks Consider a depositor owning $15,600 and has the chance to deposit his money in two deposit accounts for 5 years. Account I promised him with quarterly compounding interest rate. Account 2 promised him with monthly compounding interest rate. If the two accounts have a stated annual interest rate of 6%, then 1. For each of the two accounts, calculate how much the depositor would have at the end of the fifth year 2. Calculate the effective annual rate (EAR) for each of the two accounts 3. If the depositor has a third deposit account (account 3) promising him with 6% contracted interest rate, calculate how much the depositor would have at the end of the fifth year if the interest rate is compounded continuously