1. Simple versus compound interest 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. Isabella deposited $1,400 in a savings account at her bank. Her account will earn an annual simple interest rate of 6.6%. If she makes no additional deposits or withdrawals, how much money will she have in her account in 13 years? O $192.40 O $1.498.50 $2.601.20 O $3.213.45 How, assume that Isabella's savings institution modifies the terms of her account and agrees to pay 6.6% in compound interest on her $1,400 alance. All other things being equal, how much money will Isabella have in her account in 13 years? O $212.09 O $2.601.20 $5.213.45 O $1.492.40 opose Isabella had deposited another $1,400 into a savings account at a second bank at the same time. The second bank also pays a nominal (or ted) interest rate of 6.6% but with quarterly compounding, Keeping everything else constant, how much money will Isabella have in her account at bank in 13 years? $230.69 O $1.494.71 O $192.40 $3,278.78