If you plan to deposit $500 in one of the following acconts and leave it for 10 years, which option would give you the MOST interest at the end of the 10 years?   3% simple interest   3% compounded monthly   3% compounded quarterly   3% compounded daily   I'm wanting to say it is daily, but I'm not understanding this

Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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If you plan to deposit $500 in one of the following acconts and leave it for 10 years, which option would give you the MOST interest at the end of the 10 years?

 
  1. 3% simple interest

     
  2. 3% compounded monthly

     
  3. 3% compounded quarterly

     
  4. 3% compounded daily

     

    I'm wanting to say it is daily, but I'm not understanding this 

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