How much additional money will they have eight years from now if they can earn 9 percent rather than 7 percent on this money?

How much additional money will they have eight years from now if they can earn 9 percent rather than 7 percent on this money? A. $58,829.69 b. $86,991.91 c. $118,009.42 d. $126,745.19 e. $137,188.23 Which of the following statements concerning the effective annual rate are correct? I. When making financial decisions, you should compare effective annual rates rather than annual percentage rates.