A person is planning to open a retirement account. He plans is to deposit $1,000 per month for next 45 years. This perso

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A person is planning to open a retirement account. He plans is to deposit $1,000 per month for next 45 years. This perso

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A person is planning to open a retirement account. He plans isto deposit $1,000 per month for next 45 years. This person visitsfour local banks and recorded the interest rates:
Bank A) 0.08% per month compounded monthly Bank B) 6.2% per yearcompounded continuously Bank C) 8% per year compoundedmonthly Bank D) 7% per year compounded semi-annuallyDetermine:
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