Question: not be given for just stating the correct answer. 12. Jacob has $30 000 to invest for 5 years. He has the following options

not be given for just stating the correct answer. 12. Jacob has $30 000 to invest for 5 years. He has the following options for his investment: 6.2% simple interest, paid monthly. 4.2% compound interest paid annually. a. Which investment option will earn him more interest? Show your work/formulas for full marks. 2 marks list the information and formulas you are working with. Full credit will b. Determine how much more interest is earned. 2 marks

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