$2-$ A friend was left $$50,000$ by his uncle. He has decided to put it into a savings account for the next year. Bank A offered him $2\mathrm{.}25\%$ compounded every two months. Bank B offered $2\mathrm{.}30\%$ compounded quarterly. Bank C offered him $3\mathrm{.}30\%$ compounded continuously. He wishes to select the Bank that will give him the highest return on investment. What bank should he select? Answer: Bank A as it has the best rate: $14\mathrm{.}28\%.$ Bank $B$ and Bank C have respectively $9\mathrm{.}52\%$ and $3\mathrm{.}35\%.$