Question: You are presented with two alternative accounts. One has a rate of 6% compounded monthly while the other is 6% compounded annually. You currently have

You are presented with two alternative accounts. One has a rate of 6% compounded monthly while the other is 6% compounded annually. You currently have $7,500 to invest. How much more will you have in the account after 5 years if you invest in the account with more frequent compounding periods? $80.68$79.68$78.68 (report answer in dollars rounded to the nearest hundredth)

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