Which do you prefer: a bank account that pays 6 %per year (EAR) for three years or

a. An account that pays 3 % every six months for three years?

b. An account that pays 9 % every 18 months for three years?

c. An account that pays 0.6 % per month for three years?

a. An account that pays 3 % every six months for three years?

If you deposit $1 into a bank account that pays 6 % per year for three years, you will have $____ (Round to five decimal places.)