When Bridget takes a new job, she is offered a

$2200

bonus now or the option of an extra

$200

each month for the next year. If interest rates are

9%

compounded monthly, which choice is better and by how much?

Determine the better option for Bridget at the end of one year.

The better choice for Bridget is the option with the

$2200

bonus.

The better choice for Bridget is the option with the

$200

monthly payment.

Your answer is correct.

The better option is more profitable by

$ .

(Round to the nearest cent as needed.