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. Katherine plans to loan her friend $700. Her friend will pay a $1, 770.74 simple interest rate of 7.4% every year. If no payments are $7773.40 made and no further borrowing occurs between them for 13 $1, 373.40 years, how much money will Katherine's friend owe her then? $755.63 If interest is accrued at 7.4% compounded annually, all other $751.80 things being equal, how much money will Katherine's friend owe $1, 373.40 her in 13 years? $1, 703.45 $1, 770.74 Katherine has another investment option in the market that pays 7.4% nominal interest, but it's compounded quarterly. Keeping everything else constant, how much money will Katherine have in 13 years If she invests $700 in this fund? $144.31 $773.40 $1, 815.82 $753.26