Now, assume that Heather's credit union pays a compound Interest rate of 9.8% compounded annuallyAll other things being equal, how much will Heather have in her account after 13 years?

Now, assume that Heather's credit union pays a compound interest rate of 9.8% compounded annually. All other things being equal, how much will Heather have in her account after 13 years? $3,865.80 $1,866.60 $561.70 $5,731.65 ng cengage.com CENGAGE MINDTAP Ch 05: Assignment - Time Value of Money 2. Simple versus compound interest Financial contracts involving investments, mortgages, loans, and so on are based on either a fund or a variable interest rate. Assume that fixed Interest rates are used throughout this question Heather deposited $1,700 at her local credit union in a savings account at the rate of 9.8% paid as simple interest. She will earn interest once a year for the next 13 years. If she were to make no additional posts or withdrawals, how much money would the credit union owe Heather in 13 years? $1.882.93 $266.60 0 $3,865.0 $5,731.65 CD Now, assume that Heather credit union para compound interest rate of compounded annually. All other things being coul, how much w Heather have in her account after 13 years? $3,065.80 $1,064.60 $56.70 $5,731.65 Before deciding to deposit her money at the credit union, Heather checked the rest rates at her local bank as well. The bank was reying a nominal interest.compounded quarterly Heather hadded 51.700 at her local bank, how much would have had is her acourt after 13 ws 51.8722 DU 2,0 * esc S # 3 3 7 1 8 9 2 4 5 6 . W E Q P R U Y