1. You decide to invest $15000 into a bank account that that is compounding its interest monthly. Assuming the bank…

1. You decide to invest $15000 into a bank account that that is compounding its interest monthly. Assuming the bank is paying out an interest rate of the current prime rate – 1% (In the event that prime – 1% is less than 1%, use 1%), and the investment is for 5 years