Investments and loans base their interest calculations on one of two possible methods: the interest and interest methods. Both methods apply three variables-the amount of principal, the interest rate, and the investment or deposit period-to the amount deposited or invested in order to compute the amount of interest. However, the two methods differ in their relationship between the variables Assume that the variables I, N, and PV represent the interest rate, investment or deposit period, and present value of the amount deposited or invested, respectively. Which equation best represents the calculation of a future value (FV) using: Compound interest? Simple interest? Identify whether the following statements about the simple and compound interest methods are true or false Statement True False Everything else held constant, an account that earns compound interest will grow more quickly than an otherwise identical account that earns simple interest. All other factors being equal, both the simple interest and the compound interest methods will not generate the amount of earned interest by the end of the first year After the end of the second year and all other factors remaining equal, a future value based on compound interest will exceed a future value based on simple interest. O Yuri is willing to invest $35,000 for six years, and is an economically rational investor. He has identified three investment alternatives (X, Y, and Z) that vary in their method of calculating interest and in the annual interest rate offered. Since he can only make one investment during the six-year investment period, complete the following table and indicate whether Yuri should invest in each of the investments