Zoe deposited $1,400 in a savings account at her bank. Her Account will earn an annual simple interest rate of 9.8%.

1. Simple versus compound interest Aa Aa Financial contracts involving investments, mortgages, loans, and so on are based on either a fixed or a variable interest rate. Assume that fixed interest rates are used throughout this question. O $4,720.18 Zoe deposited $1,400 in a savings account at her bank. Her account will earn an annual simple interest rate of 9.8%. If she $237.20 makes no additional deposits or withdrawals, how much moneyO $1,550.65 will she have in her account in 13 years? O $3,183.60 Now, assume that Zoe's savings institution modifies the terms of $4,720.18 her account and agrees to pay 9.8% in compound interest on her $1,537.20 $1,400 balance.All other things being equal, how much money $462.58 will Zoe have in her account in 13 years? O $3,183.60 Suppose Zoe had deposited another $1,400 into a savings account at a second bank at the same time. The second bank also pays a nominal (or stated) interest rate of 9.8% but with quarterly compounding. Keeping everything else constant, how much money will Zoe have in her account at this bank in 13 years? O $530.3:8 O $237.20 O $1,542.32 O $4,928.90