You just received a gift of $$500$ from your grandmother and you are thinking about saving this money

for graduation which is four years away. You have your choice between Bank A which is paying $7\%$ for

one$-$year deposits and Bank B which is paying $6\%$ on one$-$year deposits. Each bank compounds interest

annually. What is the future value of your savings one year from today if you save your money in Bank

A$?$ Bank B$?$ Which is the better decision? What savings decision will most individuals make? What likely

reaction will Bank B have?