Question: Please show the steps on how you got the solution Thank you :) 24. A bank is offering the following savings plans: a) 5.55% per
24. A bank is offering the following savings plans: a) 5.55% per year, compounded daily b) 5.58 % per year compounded monthly c) 5.65 % per year, compounded annually Which is the best alternative for you? (8 pts) 25. You are expecting to receive the following cash flows: $1500 at the end of year 1, $3000 at the end of year 2, and $4500 at the end of year 3. If the best rate you can earn on these future cash flows is 6%, how much money would you have at the end of three years? (8 pts)
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