Syeda is planning to invest $8,000 for 6 years. Investment Option A offers a 3.15% annual interest rate compounded quarterly, while Option B offers the same rate but compounded daily. What is the exact total amount Syeda will have in each investment option after 6 years? Compound Interest Formula: A=P(1+(r)/(n))^nt
Answer
A
Option A:9 dollars comma 580 point 0 0, Option B: 9 dollars comma 590 point 0 0
B
Option A: 9 dollars comma 600 point 0 0, Option B: 9 dollars comma 600 point 0 0
C
Option A: 9 dollars comma 657 point 1 8, Option B: 9 dollars comma 664 point 2 5
D
Option A: 9 dollars comma 597 point 2 2, Option B: 9 dollars comma 587 point 6 7