You are given two investment alternatives. You can either choose Option M, and invest $100 per month, starting next month, into an account earning 1% interest per month or you can choose Option Y, and invest $1,200 per year, starting next year, into an account earning 12% interest per year. At the end of three years, which option will provide the highest future value?

Option Y has the higher FV

Option M has the higher FV

Both options are equivalent