A). You plan to invest $1978 in an account with two different options. Option 1 earns 8.5% annually, with interest to be compounded continuously. How much money would you have in the account after 2 years? B). You plan to invest $1978 in an account with two different options. Option 2 earns 8.5% annually, with interest to be compounded quarterly. How much money would you have in the account after 2 years?

C). You plan to invest $1978 in an account with two different options. Based on your two previous answers, which option would you choose and why?

Please hep me i will mark as the best please

A) $2,344.53

B) $2,340.36

C) Based on my answer in A and B, the Option i would choose is Option A. This is because the amount i would receive after 2 years in Option A is higher than that of Option B

Step-by-step explanation:

We solve for A and B using Compound Interest formula

A). You plan to invest $1978 in an account with two different options. Option 1 earns 8.5% annually, with interest to be compounded continuously. How much money would you have in the account after 2 years?

First, convert R as a percent to r as a decimal

r = R/100

r = 8.5/100

r = 0.085 rate per year,

Then solve the equation for A

The formula is given as

A = Pe^rt

A = 1,978.00(2.71828)(0.085)(2)

A = $2,344.53

B). You plan to invest $1978 in an account with two different options. Option 2 earns 8.5% annually, with interest to be compounded quarterly. How much money would you have in the account after 2 years?

First, convert R as a percent to r as a decimal

r = R/100

r = 8.5/100

r = 0.085 rate per year,

Then solve the equation for A

The formula is given as

A = P(1 + r/n)^nt

P = Principal = $1978

r = 0.085

n = compounded quarterly = 4

A = 1,978.00(1 + 0.085/4)(4)(2)

A = 1,978.00(1 + 0.02125)(8)

A = $2,340.36

C). You plan to invest $1978 in an account with two different options. Based on your two previous answers, which option would you choose and why?

Based on my answer in A and B, the Option i would choose is Option A. This is because the amount i would receive after 2 years in Option A is higher than that of Option B

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