C$5$ TIME VALUE $2$: $***$ PLEASE ANSWER ACCORDING TO EVERYTHING THAT NEEDS TO BE ANSWERED$/$ CORRECTED ON THE PICTURE TO GET A POSITIVE FEEDBACK $***$k$.$ Five banks offer nominal rates of $4\%$ on deposits, but A pays interest annually, B pays semiannually, C pays quarterly, D pays monthly, and E pays daily. Assume $365$

days in a year.

What effective annual rate does each bank pay? If you deposit $$6,000$ in each bank today, how much will you have in each bank at the end of $1$ year? $2$ years?

Round your answers to two decimal places.

If the TVM is the only consideration, what nominal rate will cause all of the banks to provide the same effective annual rate as Bank A$?$ Round your answers to

two decimal places.

D

Suppose you don't have the $$6,000$ but need it at the end of $1$ year. You plan to make a series of deposits $-$ annually for A $,$ semiannually for $B,$ quarterly for C $,$

monthly for D $,$ and daily for E $-$ with payments beginning today. How large must the payments be to each bank? Round your answers to the nearest cent.

Even if the five banks provided the same effective annual rate, would a rational investor be indifferent between the banks?

It is more likely that an investor would prefer the bank that compounded

frequently.

I. Suppose you borrow $$15,000.$ The interest rate is $6\%,$ and it requires $4$ equal end$-$of$-$year payments. Set up an amortization schedule that shows the annual

payments, interest payments, principal repayments, and beginning and ending loan balances. Round your answers to the nearest cent. If your answer is zero, enter $"0".$