You Place $1,000 in an Account That Pays 7% Interest

Multiple Choice

You place $1,000 in an account that pays 7% interest compounded continuously.You plan to hold the account exactly 3 years.Simultaneously,in another account you deposit money that earns 8% compounded semiannually.If the accounts are to have the same amount at the end of the 3 years,how much of an initial deposit do you need to make now in the account that pays 8% interest compounded semiannually?

A) $ 835.94
B) $ 879.93
C) $ 926.24
D) $ 974.99
E) $1,023.74