Thomas is going to deposit $840 in an account that earns 7.5% interest compounded annually. His wife Sheril will deposit $1,250 in an account that earns 6.9% simple interest each year. They deposit the money on the same dayand make no additional deposits or withdrawals for the accounts. What statement is true concerning Thomas' and Sheril's account balance after 5 years? a
Sheril's account will have about $475.32 less than Thomas' account.
b
Thomas' account will have about $475.32 less than Sheril's account.
c
Sheril's account will have about $431.25 less than Thomas' account.
d
Thomas' account will have about $431.25 less than Sheril's account.