Kirk can take his

$1,010

income tax refund and invest it in a 36-month certificate of deposit at

4%,

compounded monthly, or he can use the money to purchase a home entertainment system and put

$36

a month in a bank savings account that will pay him

9%

annual interest. Which choice will give him more money at the end of three years?

After depositing his income tax refund, at the end of three years Kirk will have

$