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Hans Solo has a choice to make. Option A: Should he invest 18000 at 10.7% for 7 years earning simple interest, or Option B: Should

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Hans Solo has a choice to make. Option A: Should he invest 18000 at 10.7% for 7 years earning simple interest, or Option B: Should he invest the same amount of money at 10.45% compounded monthly for the same amount of time? Simple Interest: Principal (0.5 points) Rate - as a decimal (0.5 points) Time (0.5 points) What will the future vale of the investment be with Option A? Round to two decimal places. (1.5 points) Compound Interest: P/Y (0.5 points) P/TU.5 points) C/Y (0.5 points) N (0.5 points) 1/Y (0.5 points) PV (0.5 points) I What will be the future value of the investment for Option B? Round to two decimal places (1.5 points) Which option should Hans Solo choose? (1 point) How much more interest does he earn with this option? Round to two decimal places (1 point)

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