1. Simple versus compound interest Aa Aa Financial contracts involving investments, mortgages, loans, and so on are based on either a fixed or a variable interest rate. Assume that fixed interest rates are used throughout this question. Abigail deposited $900 in a savings account at her bank. Her account will earn an annual simple interest rate of 5.8%. If she makes no additional deposits or withdrawals, how much money will she have in her account in 11 years? $955.23 $1,673.34 $152.20 O $1,474.20 Now, assume that Abigail's savings institution modifies the terms of her account and agrees to pay 5.8% in compound interest on her $900 balanceAll other things being equal, how much money will Abigail have in her account in 11 years? $952.20 $97.05 $1,673.34 O $1,474.20 Suppose Abigail had deposited another $900 into a savings account at a second bank at the same time. The second bank also pays a nominal (or stated) interest rate of 5.8% but with quarterly compounding. Keeping everything else constant, how much money will Abigail have in her account at this bank in 11 years? O $152.20 $1,695.64 O $104.06 $953.35