Which do youprefer: a bank account that pays 5.1% per year(EAR) for three years or

a. An account that pays 2.7% every six months for threeyears?

b. An account that pays 7.4% every 18 months for threeyears?

c. An account that pays 0.64% per month for threeyears?

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

If you deposit $1 into a bank account that pays 5.1% per year for threeyears:

The amount you will receive after three years is $

nothing

. (Round to five decimalplaces.)