The most efficient way to find answers to all of the questions below is to use correct formulas in the spreadsheet applet above. If you use formulas that contain cell references (rather than just the numbers), it will save time since you can grab the lower right corner of the cell to drag such formulas down the column. For example, you can calculate the interest per period in cells E2 to E6 as follows. First, type the following into cell E2: =0.01*C2/D2 . Make sure you use the arrow key or the mouse to navigate out of the cell. Then, grab the lower right corner of cell E2, and drag the formula down to E6. All of the periodic interest rates will be calculated and the precise unrounded values will be stored in the applet for future reference. Even when rounded values are displayed, the precise values are saved in the background. If you decide not to use the spreadsheet, remember that you should not round intermediate steps and only round final answers. Chambers and Crane Credit Union (CCCU) offers customers five different savings account options: Account 1 offers an APR of 10.433%, compounded quarterly. Account 2 offers an APR of 10.679%, compounded weekly. Account 3 offers an APR of 9.556%, compounded annually. Account 4 offers an APR of 8.529%, compounded monthly. Account 5 offers an APR of 9.849%, compounded daily. Use this account information to answer the questions below. Round all dollar amounts to the nearest cent (2 decimal places). (a) Use the orange block of the spreadsheet applet to find the APY for each account. The formula to use is given in the column heading D8. If you type a formula into cell D9 with cell references to B9 and C9 included in that formula, then you can drag the formula through to D13. This will display all of the APYs in column E. After computing each account's APY, rank CCCU's five account options below by listing them in order from the account producing the greatest yield down to the account with the lowest yield. Each account's APY should be given as a percent rounded to 3 decimal places. Account 2 with an APY of %. Account 1 with an APY of %. Account 5 with an APY of %. Account 3 with an APY of %. Account 4 with an APY of %. (b) Sam is planning to open a bar and grill in Boston, MA, in 6 years. Sam chooses Account 3 at CCCU and deposits $89,750. At the end of 6years, Sam will have a total of $. In total, Sam will earn $ in interest. (c) Carla has managed to save a total of $17,380 for her wedding. 21 months ago, Carla invested her savings in Account 4 at CCCU. We can conclude that the amount of Carla's original investment was $ and that she earned $ in interest during the 21 months. (d) Coach Pantusso needs $1,522 for new equipment for his little league baseball team. He decides to deposit $1,215 at CCCU into Account 5. How long will Coach need to wait until he can afford the new equipment? Answer first in years, rounded to 2 decimal places. Then, round that answer to days, rounded to the nearest whole number of days (using 365 days per year). Coach will need to wait for a time of t years, which rounds to days. (e) Woody has been saving money because Norm and Cliff have promised to take him on a cross-country snipe hunt. However, Woody was unable to get approved for an account at CCCU and had to instead do business with Howe's Investment Bank. Howe's offered him an account with continuous compounding and Woody deposited the $2,315 he had saved so far. It turns out that over a term of 5.1 years with the Howe's IB account, Woody has earned $925.92 in interest. This means that Woody now has a total (future value) of $ and we can conclude that his continuously compounded interest rate at Howe's IB was approximately % (round the percentage to 3 decimal places).