[Related to Solved Problem 3.1A] Suppose that you are considering investing $1 comma 000

1,000in one of the following bank CDs.

CD1, which will pay an interest rate of 6% per year for three years

CD2, which will pay an interest rate of

10% the firstyear,

9% the secondyear,

6% the third year

The future value of CD 1 is $ ____________

The future value of CD 2 is $ ______________

.Round your responses to the nearestcent.

Given the future values youcalculated, which CD should bechosen?

A.

CD 1

B.

CD 2