The First National Bank is offering a 3 year certificate of deposit (CD) at 4% interest compounded quarterly; Second National Bank is offering a 3 year CD at 5% interest compounded annually. (Round your answers to two decimal places.)

(a)

If you were interested in investing $6,000 in one of these CDs, calculate the compound amount (in $) of each offer. (Use Table 11-1.)

First National Bank$Second National Bank$

(b)

What is the annual percentage yield of each CD?

First National Bank %Second National Bank %

(c)

If Third National Bank has a 3 year CD at 4.5% interest compounded monthly, use the compound interest formula to calculate the compound amount (in $) of this offer.

$