Finandal contracts imvolving investments, mortgages, loans, and so on are based on either a fred or a variable interest rate. Assume that fived interest rates are used throughout this question. - Qivia deposited $800 at her local credit union in a savings account at the rate of 6.2% paid as simple interest. She wil eam interest once a year foe the next 7 years. If she were to make no additional deposits of withdrawals, how much money would the credit union owe Otvia in 7 years? $852.65 $1,147.20 51,218.69 $149.60 Now, assume that Olivia's credit union pays a compound interest rate of 6.2% compounded annualy. Mil ceher things being equal, how much will Olivia have in her account after 7 years? $1,218,89 $849,60 $7557 $1,147,20 Before deciding to deposit her money at the credit union, Olivia checked the interest rates at her local bank as well, The bank was paying a nomiral interest rate of 6.2% compounded quarterly. If Olivia had deposited $800 at her local bank, how much would she have had in her account after 7 vears? $1,230,63 $850.77 $81.04 $149,60