ECON 342: Money and Banking Hannah Leet ? Homework: HW 1 (Chaps 1- 4) (Copy 2) Question 14, End of Chapter 1.6 HW Score: 57.8%, 28.9 of 50 points Part 1 of 4 O Points: 0 of 1 Save [Related to Solved Problem 3.1A] Suppose that you are considering investing $1,100 in one of the following bank CDs. CD 1, which will pay an interest rate of 4% per year for three years . CD 2, which will pay an interest rate of 12% the first year, 8% the second year, and 3% the third year The future value of CD 1 is $ , and the future value of CD 2 is $ . (Round your responses to the nearest cent.) Given the future values you calculated, which CD should be chosen? O A. CD 2 should be chosen. O B. CD 1 should be chosen