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

Multiple Choice

You place $1,000 in an account that pays 7.00% interest compounded continuously.You plan to hold the account exactly 3 years.Simultaneously,in another account you deposit money that earns 5.20% 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 5.20% interest compounded semiannually? Do not round your intermediate calculations.

A) $1,025.86
B) $803.77
C) $1,057.59
D) $1,290.26
E) $835.50