Section 1. Question 4. You have 20,000 CAD to invest, and a bank (Bank A) offer you with a published interest rate of 5.5% compounded quarterly. You visited another bank (Bank B) and you were offered another rate. What would be the semi-annual compounding rate Bank B would charge so that you can have the same amount of money at the end of one year, whether you invest with Bank A or Bank B. You heard that another bank (Bank C) gives you 3.10% compounded monthly with the promotion of adding free $500 in your investment account in the day you invest but the investment must be 20,000 CAD and above. Which bank will you choose to invest and why