You have $800 that you would like to invest. You have 2 choices: Savings account A, which earns 8% compounded annually or savings account B, which earns 7.70% compounded monthly. Which would you choose and why?

Answer

		A, because it has a higher effective annual rate.
		, because the future value in one year is lower.
		B, because it has a higher effective annual rate.
		B, because the future value in one year is lower.
		A, because it has the higher quoted rate.