3-74. Peggy Sue was left $50,000 by her uncle. She has decided to put it into a savings ac- count for the next year or so. She finds that there are three different interest rates at sav- ihgs...

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Extracted text: 3-74. Peggy Sue was left $50,000 by her uncle. She has decided to put it into a savings ac- count for the next year or so. She finds that there are three different interest rates at sav- ihgs institutions: 5%% compounded annually, 54% compounded quarterly, and 5%% com- pounded continuously. She wishes to select the savings institution that will give her the highest return on her money. What interest rate should be selected? I