Finance:Assume that a depositor deposits E100 with his/herbank for consecutive three years and the annual percentagerate (APR)quoted by the bank is 10%compounding quarterly.UNIVER()1Based on thisiNexample,please discuss (1).the differenceBIRMINAbetween simple interest and compound interest earned by thedepositor at the end of the third year,and (2).the differencebetween the annual percentage rate (APR)and the effectiveannual rate (EAR).