Which do you prefer: a bank account that pays

5%

per year (EAR) for three years ora. An account that pays

2.5%

every six months for three years? b. An account that pays

7.5%

every 18 months for three years? c. An account that pays

0.5%

per month for three years?

a. An account that pays

2.5%

every six months for three years? If you deposit

$1

into a bank account that pays

5%

per year for three years, you will have

X

(Round to five decimal places.)