1. Gregory may choose between two accounts in which to invest $8,000. Account A offers 2.5% annual interest compounded monthly. Account B offers continuous compound interest. Greg plans to leave his investment untouched (no further deposits and no withdrawals) for 12 years.
(a) Which account will yield the greater balance at the end of 12 years? Show Work
(b) How much more money does Greg earn by choosing this more profitable account? Show work