Complete the table to determine the effect of the number of compounding periods when computing interest. Suppose that $ 15,000 is invested at 4% interest for 6 yr under the following compounding options. Round answers in the second column to the nearest whole number. Round answers in the last column to the nearest cent. Compounding Option n Value Result X (a) Annually n= $ (b) Quarterly n= S (c) Monthly n = (d) Daily n = 365 (e) Continuously Not ApplicableSuppose that P dollars in principal is invested for t years at the given interest rates with continuous compounding. Determine the amount that the investment is worth at the end of the given time period. P= $18,000, t = 10 yr (a) 3% interest (b) 4% interest (c) 6.5% interestPenelope needs to borrow $11,000. She can borrow the money at 5.5% simple interest for 3 yr or she can borrow at 3% with interest compounded continuously for 3 yr. (a) How much total interest would Penelope pay at 5.5% simple interest? (b) How much total interest would Penelope pay at 3% interest compounded continuously? (c) Which option results in less total interest