Question: please show work for 4 & 5 suppose that Bank A offers 5.00% compounded monthly and bank B offers 5.30% compounded semi-annually. 4, a. Which

please show work for 4 & 5 please show work for 4 & 5 suppose that Bank A offers

suppose that Bank A offers 5.00% compounded monthly and bank B offers 5.30% compounded semi-annually. 4, a. Which bank would you prefer? What nominal rate could bank B offer that would make you indifferent between banks A and B? b. Finn has determined that he needs to receive $11,000 per month for 25 years after he retires. Additionally, he wants to leave $2,000,000 to his favorite grandchild after his death. How much must he save every month if he works for 45 years? His retirement fund will earn 10.00% while he works and 5.00% after he retires. 5

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