$$\text { Use the compound interest formulas } A = P \left( 1 + \frac { r } { n } \right) ^ { n t } \text { and } A = P e ^ { r t } \text { to solve. }$$

Multiple Choice

$$\text { Use the compound interest formulas } A = P \left( 1 + \frac { r } { n } \right) ^ { n t } \text { and } A = P e ^ { r t } \text { to solve. }$$
-Suppose that you have $3000 to invest. Which investment yields the greater return over 9 years: 5.4% compounded monthly or 5.5% compounded quarterly?

A) $3000 invested at 5.4% compounded monthly over 9 years yields the greater return.
B) Both investment plans yield the same return.
C) $3000 invested at 5.5% compounded quarterly over 9 years yields the greater return.