Question: Akikta decides to start saving and is considering a Super Savings bank, which offers an APR of 6% with monthly compounding . If she deposits

Akikta decides to start saving and is considering a "Super Savings" bank, which offers an APR of 6% withmonthly compounding.

If she deposits $1000 in the SS bank today.How much totalinterest on interestwill she earn at the end of year 6?

Please enter the answer in 2 decimal places, i.e. $12.5667, please enter 12.57.

(2) Suppose that Akikta is also considering another investment product, PQ,

which requires $1000 investment today and promises aquarterly paymentof $50 for 6 years.

CalculateEARof this investment product.

Please enter the answer in 2 decimal places, i.e. 5.1122%, please enter 0.05.

(c) Compare "Super Savings" bank account with investment product PQ,which investment choice is better?

"Super Savings" bank offers an APR of 6% withmonthly compounding.

Investment product PQrequires $1000 investment today and promises aquarterly paymentof $50 for 6 years.

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