You are choosing between irvestments offered by two different banks. One promises a return of 10% for three years in simple interest, while the other offers a return of 10% for three years in compound interest. You should: Select an answer and submit. For keyboard navigution, wse the up/down arrow keys to select an answer. a Choose the simple interest option because both have the same interest rate. b Choose the compound interest option because it provides a higher return than the simple interest option. c Clvoose the compound interest option only if the compounding is for monthly periods. d Choove the simple interest option only i compounding occurs more than once peryear. Choose the compound interest eption only if you are inveiting less than 55,000 . You are 21 , retire at 65 with $1,000,000, earn 10% per year compounded annually, what must you invest TODAY to reach your goal? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answet, a $13,719.21 b $15,091.13 c $16,600.25 You are 21 , child at 30, PSU costs $35,000 to attend today, Board of Trustees can keep cost increases to +5% per year. What will it cost to send your child to college for one year here? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a $130,670.97 b $54,296.49 c. 584,231.67 Grandpa puts $50,000 into a bank account for you earning 4% compounded monthly. How much will you have in the account after 4 years if you don't make Grandpa mad enough to take the money back before then? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a $34,847,25 b $58,659.93 c 578,283.01 d $90,876.21 You are going to receive $5,000 at the end of each year for four years. If the annual discount rate is 7%, what is the present value of this income stream? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a $9,382.19 b $13,938.84 C 515,387.29 d $16,936,06