Adam Jones, age 55, received $30,000 from his great uncle's will and is trying to decide how to invest it to maximize his return on his investment for his future retirement at age 65. He finds 3 options at a local bank to compare.

1. Invest in a simple interest savings account at 8% interest. (4 points)

2. Invest in a savings account that generates quarterly compound interest of 4%. (4 points)

3. Invest in a savings account that generates daily compounded interest at 6%. (4 points)