A couple wishes to invest RM10,000 into an education investment account at birth

of their son. They have three options:

i. Account ABC with interest rate 6% compounded monthly.

ii. Account JKL with interest rate 6% compounded quarterly.

iii. Account XYZ with interest rate 6% compounded semiannually.

a) Calculate the effective rate of interest for each option.

b) From your answer in (a), choose the best option and state why.

c) From your answer in (b), calculate the accumulated amount in the account

when their son is 18 years old.