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Situation You are a financial advisor. Your clients include young couples who are looking for financial advice. During this pandemic, everyone is looking for the

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Situation You are a financial advisor. Your clients include young couples who are looking for financial advice. During this pandemic, everyone is looking for the best option when saving their money. As a financial advisor, you help people determine the best options for their savings plan. Most banks offer saving plan options with compound interest The Jacksons Eric and Amy Jackson wish to invest in a no-risk savings account. They currently have $50,000 in an account that has a 4.25% annual interest rate, compounded continuously. They have the following options: a. keep their money in the account they already have b. invest the money in an account that has 5.1% annual interest, compounded annually c. invest the money in an account that has 4.75% annual interest, compounded quarterly d. invest the money in an account that has 3.75% annual interest, compounded monthly Part 1 Write a function for each option, CO), Dt). Ft) and Ha) that represents the amount of money in the account after 7 years after the account is opened. a. C, keep their money in the account they already have b. Dt). invest the money in an account that has 5.1% annual interest, compounded annually c. FO), invest the money in an account that has 4.75% annual interest, compounded quarterly d. Ho), invest the money in an account that has 3.75% annual interest, compounded monthly Part II Graph all four functions on the same x and yaxes where each graph is clear. Use a different color for each function. Be sure to pick an appropriate scale and label your axes. Include tables of expected amounts for 6 years (you should have 4 tables in all). Round to the nearest dollar. Part III The Jacksons hope to save $90,000 for a down payment on a house. They want to do this as quickly as possible. As their financial advisor, give a brief summary that describes the implications of their options. Show calculations and evidence to support your claim(s). Round all final answers to the nearest fenth. Part IV Research a savings account option at a local bank (you can look up the information on the bank's main website) a. State the bank and give the details on the savings account. b. Using this account, how long would it take the Jacksons to save their $90,000 down payment? Show how you got your answer. Do you find this to be a reasonable amount of time? Describe any additional advice you would give in order for the Jacksons to reach their financial goals. C

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