Which do you prefer: a bank account that pays 5.7% per year (EAR) for three years or

a. An account that pays 2.6 % every six months for three years?

b. An account that pays 7.2% every 18 months for three years?

c. An account that pays 0.28% per month for three years?

(Note: Compare your current bank EAR with each of the three alternative accounts. Be careful not to round any intermediate steps less than six decimal places.)

If you deposit $1 into a bank account that pays 5.7% per year for three years:The amount you will receive after three years is

$ _____.

(Round to five decimal places.)

a. An account that pays 2.6% every six months for 3 years? If you deposit $1

into a bank account that pays 2.6%

every six months for three years:The amount you will receive after three years is

$______.

(Round to five decimal places.)Which bank account would you prefer?

. (Select from the drop-down menu.)b. An account that pays 7.2%

every 18 months for 3 years? If you deposit $1

into a bank account that pay 7.2%

every 18 months for three years:The amount you will receive after three years is

$ .

(Round to five decimal places.)Which bank account would you prefer?

c. An account that pays 0.28%

per month for three years?If you deposit $ 1

into a bank account that pays 0.28%

per month for three yearsThe amount you will receive after three years is

$.

(Round to five decimal places.)Which bank account would you prefer?