1. Assume you deposit $1,000 in an account that earns 6% per year. a. What would the balance in the account be at the end of 5 years if interest is compounded annually? b. What would be the balance in the account at the end of 5 years if interest compounds monthly? (A) $747 and $741 (B) $1,000 (C) $1,338 and $1,349 (D) $1,276 and $1,283