Melissa has $1,000.00 to invest for 5 years. She can choose either simple interest at 6.4% interest, or compound interest at 12.8% interest, compounded annually.
Which is the better investment?
A. A compound interest investment would be better, because Melissa would earn $826.19 in compound interest.
B. A simple interest investment would be better, because Melissa would earn $826.19 in simple interest.
C. A simple interest investment would be better, because Melissa would earn $320.00 in simple interest.
D. A compound interest investment would be better, because Melissa would earn $320.00 in compound interest.