Use the compound interest formulas A = P (1+rn)nt and A = Pe…

Use the compound interest formulas A = P (1+rn)nt and A = Pert{“version”:”1.1″,”math”:”A = P (1+rn)nt and A = Pert”} to solve.  Suppose that you have $3000 to invest. Which investment yields the greater return over 9 years: 5.4% compounded monthly or 5.5% compounded quarterly?