the last section 1. credit union or 2. local bank

Meadow Company wants to invest its net profits of $112,000 for 7 years in either a credit union or a local bank. The credit union provides interest of 9.33% compounded monthly, while the local bank provides interest of 9.46% compounded semi-annually. Calculate the maturity value of the investment with: a. Credit Union: Round to the nearest cent b. Local Bank: Round to the nearest cent c. Which of the two options will yield the highest returns? a. Credit Union