] You've just received a raise that will result in an extra $1,200 in earnings each month. You have decided to invest this extra amount in an interest-bearing account so that you can save for the down payment on your first home. You've identified four different savings account options, each with a different interest rate, as defined below. You will make equal end of the month deposits of $1,200 into the savings account regardless of the option you choose. If your goal is to maximize the amount that you save, so you have the largest possible down payment at the end of year 8 to support purchasing your new home in year 9, which of these options should you select? Support your answer with a comparison of the future value of each of these options.

Option A: The account earns 6.25% interest compounded quarterly

Option B: The account earns 5.75% interest compounded weekly

Option C: The account earns 6.5% interest compounded monthly