You are considering three alternative banks in which to open a savings account. The rst bank offers you an annual rate r1,and the interest is paid monthly. The second bank offers a rate r2, and the interest is paid daily. The third bank offers a rate r3 , and it offers continuous compounding. Give all answers to four decimal places. Part 1 (1 point) 0 See Hint Suppose you were to save $700.0000 in the rst bank. The interest rate is r1 = 7.0000%. Three years from now, you should have $ Part 2 (1 point) 0 See Hint Suppose you were to save $700.0000 in the second bank. The interest rate is r2 = 5.0000%. Three years from now, you should have 515 Part 3 (1 point) 0 See Hint Suppose you were to save $700.0000 in the third bank. The interest rate is r3 = 1,0000%. Three years from now, you should have $ Part 4 (1 point) 0 See Hint Let the interest rate in the rst bank be r1 = 7.0000%, and you are considering saving your money for 3 years. The interest rate from the second bank that would make you indifferent between the rst and second bank is r2 = %. Part 5 (1 point) 0 See Hint Let the interest rate in the third bank be r3 = 1.0000%, and you are considering saving your money for 3 years. The interest rate from the rst bank that would make you indifferent between the rst and third bank is r1 = %