Financial contracts involving investments, mortgages, loans, and so on are based on either a fixed or a variable interest rate. Assume that fixed interest rates are used throughout this question. Abigail deposited $1,000 at her local credit union in a savings account at the rate of 6.2% paid as simple interest. She will earn interest once a year for the next 11 years. If she were to make no additional deposits or withdrawals, how much money would the credit union owe Abigail in 11 years? $1, 938.07 $162.00 $1, 065.84 $1, 682.00 Now, assume that Abigail's credit union pays a compound interest rate of 6.2% compounded annually. All other things being equal, how much will Abigail have in her account after 11 years? $120.16 $1, 938.07 $1, 062.00 $1, 682.00 Before deciding to deposit her money at the credit union, Abigail checked the interest rates at her local bank as well. The bank was paying a nominal interest rate of 6.2% compounded quarterly. If Abigail had deposited $1,000 at her local bank, how much would she have had in her account after 11 years? $162.00 $129.54 $1, 063.46 $1, 967.51