You are interested in investing some money and are presented with

the following two investment options:

$$ Option A: Earn an effective interest rate of $9\mathrm{.}75\%$ per annum;

$$ Option B: Earn a nominal interest rate of $9\mathrm{.}4\%$ per annum, com$-$

pounded monthly.

Determine which investment option is better by comparing the interest

rates.