could you please do it step by step

Mini Case Study plans to start a business in one year. He currently has $100,000 cash in the bank and is onsidering the following savings/deposit options to maximise the interest earnings in one ear. Which of the following plans will generate the highest balance at the end of one year? 1. A savings account that pays an annual interest rate of 2%, compounded monthly. All interests earned will remain in the account to earn more interests. 2. A savings plan that pays an annual interest of rate 2%, compounded quarterly. All interests earned will remain in the account to earn more interests. 3. A one-year term deposit account that pays an interest rate of 2%, interest is paid once at the end of one year. a) Compare and discuss your answers from the above calculations. b) Which option would you recommend? For each option, show all calculations clearly and explain to Joe why your recommendation is the best option. Explain to Joe the concept of interests and compound interests. c) Joe is also considering an alternative to starting a business. He would like to know more about the compounding effect over time. That is, if his $100,000 cash is kept in the bank to earn interest (assume an interest rate of 2% p.a., compounding monthly) over time, how much money will he have over a longer period of time (ex: 50 years with 5-yearly intervals)? Plot a graph (similar to the one shown in Class 1 lecture slides #26) to demonstrate the compounding effect over time (horizontal axis= number of years; vertical axis= future value in $ ). Repeat the exercise, except this time use an interest rate of 10% p.a., compounding monthly. Compare the two graphs with the two different interest rates. gnore taxes for this exercise. You can make an assumption(s) if that helps you to provide iore specific answers.) urther research: After the completion of this case study, do a web search to find out the latest terest rates that your personal saving and/or term deposit account is earning, is there hother account (perhaps from a different bank) that offers a higher interest rate? Mini Case Study plans to start a business in one year. He currently has $100,000 cash in the bank and is onsidering the following savings/deposit options to maximise the interest earnings in one ear. Which of the following plans will generate the highest balance at the end of one year? 1. A savings account that pays an annual interest rate of 2%, compounded monthly. All interests earned will remain in the account to earn more interests. 2. A savings plan that pays an annual interest of rate 2%, compounded quarterly. All interests earned will remain in the account to earn more interests. 3. A one-year term deposit account that pays an interest rate of 2%, interest is paid once at the end of one year. a) Compare and discuss your answers from the above calculations. b) Which option would you recommend? For each option, show all calculations clearly and explain to Joe why your recommendation is the best option. Explain to Joe the concept of interests and compound interests. c) Joe is also considering an alternative to starting a business. He would like to know more about the compounding effect over time. That is, if his $100,000 cash is kept in the bank to earn interest (assume an interest rate of 2\% p.a., compounding monthly) over time, how much money will he have over a longer period of time (ex: 50 years with 5-yearly intervals)? Plot a graph (similar to the one shown in Class 1 lecture slides #26) to demonstrate the compounding effect over time (horizontal axis= number of years; vertical axis= future value in $ ). Repeat the exercise, except this time use an interest rate of 10% p.a., compounding monthly. Compare the two graphs with the two different interest rates. Ignore taxes for this exercise. You can make an assumption(s) if that helps you to provide tore specific answers.) urther research: After the completion of this case study, do a web search to find out the latest aterest rates that your personal saving and/or term deposit account is earning, is there nother account (perhaps from a different bank) that offers a higher interest rate