You have a choice between investing $1,000 at Cougar Credit…
You have a choice between investing $1,000 at Cougar Credit Union or Tiger Bank. Cougar Credit Union offers a money market account which pays 8% annual interest which is compounded quarterly. Tiger Bank offers a money market account which pays 8.2% annual interest and compounds annually. Which account will pay the most interest over a one-year period? How much extra interest would you earn?