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You have $ 5 , 0 0 0 to deposit. Fulton Bank offers 6 percent per year compounded monthly ( . 5 percent per month

You have $5,000 to deposit. Fulton Bank offers 6 percent per year compounded monthly (.5 percent per month), while PNC Bank offers 6 percent but will only compound annually. How much will your investment be worth in 10 years at each bank?
Question 49 options:
Fulton $8,954.24; PNC $8,954.24
Fulton $8,954.24; PNC $9,096.98
Fulton $9,096.98; PNC $8,954.24
Cannot be determined from the information given

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