Peter invests \(\$100,000\) in an account that pays \(12\%\) annual interest: the interest is paid once, at the end of

Peter invests \(\$100,000\) in an account that pays \(12\%\) annual interest: the interest is paid once, at the end of the year. Martha invests \(\$100,000\) in an account that pays \(12\%\) annual interest, compounding monthly at the end of each month. At the end of one full year, compared to Peter's account, approximately how much more does Martha’s account have?

A. Zero

B. \(\$68.25\)

C. \(\$682.50\)

D. \(\$6825.00\)

E. \(\$68250.00\)

Answer: C

Source: Magoosh