An author receives a $7,600 advance payment for a book publishing deal and wants to place the money in a savings account for 8 years. Which account would have a larger balance if interest is compounded semi-annually at 3.62%, compared to continuously compounded interest at 3.52%?  The semi-annually compounded account will have a larger balance of $10,071.89.  The continuously compounded account will have a larger balance of $10,071.89.  The semi-annually compounded account will have a larger balance of $10,126.53.  The continuously compounded account will have a larger balance of $10,126.53.

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