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Consider the following investment options. Option 1: invest $3000 for 8 years at 6% compound annually Option 2: invest $3000 for 8 years compounded

Consider the following investment options. Option 1: invest $3000 for 8 years at 6% compound annually Option 2: invest $3000 for 8 years compounded continuously at 5% How much will each investment be worth after 8 years? (Round your answers to the nearest cent.) Option 1 $ Option 2 $ Which investment will earn more money? Option 1 Option 2

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