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You are sitting in a lounge at Chilton hotel. A wealthy lady runs in and offers...

You are sitting in a lounge at Chilton hotel. A wealthy lady runs in and offers to pay $10,000 in cash to anyone who can provide advice on a decision that she must make right now. She needs to decide whether to invest $250,000 in BC&T bank that offers 12% compounded monthly or Bank of ‘Merica that offers 10% compounded daily. Show her the value of each option after 1 year.

$280,000.00 and 275,000.00

$281,706.26 and   $276,288.95

$252,500.00 and $250,068.49

$250,000 and $250,000
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