Kirk can take his $760 income tax refund and invest it in a36-month certificate of deposit at 7%, compoundedmonthly, or he can use the money to purchase a home entertainment system and put $29 a month in a bank savings account that will pay him 7% annual interest. Which choice will give him more money at the end of threeyears?

After depositing his income taxrefund, at the end of three years Kirk will have $