Suppose you don't have the $$3,000$ but need it at the end of $1$ year. You plan to make a series of deposits $-$ annually for $A,$ semiannually

for $B,$ quarterly for $C,$ monthly for $D,$ and daily for $E-$ with payments beginning today. How large must the payments be to each bank?

Round your answers to the nearest cent.

Even if the five banks provided the same effective annual rate, would a rational investor be indifferent between the banks?

It is more likely that an investor would prefer the bank that compounded

$(0)$ frequently.

I. Suppose you borrow $$16,000.$ The interest rate is $8\%,$ and it requires $4$ equal end$-$of$-$year payments. Set up an amortization schedule that

shows the annual payments, interest payments, principal repayments, and beginning and ending loan balances. Round your answers to the

nearest cent. If your answer is zero, enter $"0".$

Choose the correct graph that shows how the payments are divided between interest and principal repayment over time.

The correct graph is graph D $0.$