Jace is trying to determine how to invest $1,234.56 that he inherited from his cousin Elijah.  He has the following options at his bank. Certificate of Deposit that pays 4.25% simple interest. Savings Account that pays 3.95% compounded annually. How much will the Savings Account be worth if he left the money untouched for 30 years?      A) $2,697.66       B) 26,837,275.84       C) $3,946.82       D) $1,462.95

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
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Jace is trying to determine how to invest $1,234.56 that he inherited from his cousin Elijah.  He has the following options at his bank.

Certificate of Deposit that pays 4.25% simple interest.
Savings Account that pays 3.95% compounded annually.
How much will the Savings Account be worth if he left the money untouched for 30 years?

    
A) $2,697.66
     
B) 26,837,275.84
     
C) $3,946.82
     
D) $1,462.95

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