Using the formula I=Prt for simple interest and A=P(1+r)ᵗ for compound interest, who will have the most money to spend on a new bike at the end of the four years?
a. Joann will have the most money, $576.80 for the bike
b. Cyndy will have the most money, $580.00 for the bike.
c. Cyndy will have $576.80, the most money for the bike.
d. Iliana will have $580.00, the most money for the bike.