You recently received an unexpected monetary gift of $3,000. Because you took MTH 110, you know that investing this money in a good bank account will allow your money to grow exponentially. After...

You recently received an unexpected monetary gift of $3,000. Because you took MTH 110, you know that investing this money in a good bank account will allow your money to grow exponentially. After visiting several banks in the Allendale area, you have narrowed it down to two options..

Option 1- At Lake Michigan Credit Union your money will earn interest rate of 2.05\% per year, compounded monthly. Call the function that models this situation L(t).

Option 2: At Macatawa Bank your money will earn interest at a rate of 1.05 % per year, compounded continuously Call the function that models this situation M(t).

Where should you invest your money if you planned withdraw it in 5 years?

How long well the money need to stay in each account in order for the amount to double?