Step-by-step explanation:
Answer:
Your answer is B 5/7
Step-by-step explanation:
Answer:
option A is answer.
Step-by-step explanation:
Amount of interest earned for compounded monthly for $1 = 1.040742
Amount of interest earned for compounded quarterly for $1= 1.040604
Difference for $1 = 1.040742 - 1.40604
=0.000138
Difference for $7000 = $7000x0.000138
= 0.966
or $0.96