Zoe deposited $1,400 at her local credit union in a savings account at the rate of 8.2% paid as simple interest. She will earn interest once a year for the next 9 years. If she were to make no additional deposits or withdrawals, how much money would the credit union owe Zoe in 9 years?

$2,845.60

$214.80

$1,524.21

$2,433.20

Now, assume that Zoes credit union pays a compound interest rate of 8.2% compounded annually. All other things being equal, how much will Zoe have in her account after 9 years?

$2,433.20

$2,845.60

$1,514.80

$233.34

Before deciding to deposit her money at the credit union, Zoe checked the interest rates at her local bank as well. The bank was paying a nominal interest rate of 8.2% compounded quarterly. If Zoe had deposited $1,400 at her local bank, how much would she have had in her account after 9 years?

$1,518.38

$257.88

$2,906.67

$214.80