Question $1$ of $6$

Meadow Company wants to invest its net profits of $$99,000$ for $9$ years in either a credit

union or a local bank. The credit union provides interest of $5\mathrm{.}50\%$ compounded

monthly, while the local bank provides interest of $6\mathrm{.}25\%$ compounded semi$-$annually.

a$.$ What would be the maturity value of the investment under the credit union option?

Round to the nearest cent

b$.$ What would be the maturity value of the investment under the local bank option?

Round to the nearest cent

c$.$ Which of the two options will yield the highest return?

a$.$ Credit Union

b$.$ Local Bank