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Suppose you decide to deposit $21,000 in a savings account that pays a nominal rate of 16%, but interest is compounded daily. Based on a

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Suppose you decide to deposit $21,000 in a savings account that pays a nominal rate of 16%, but interest is compounded daily. Based on a 365-day year, how much would you have in the account after 12 months? (Hint: To calculate the number of days, divide the number of months by 12 and multiply by 365.) O $24,642.86 O $26,121.43 O $23,903.57 $25,135.72

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