If you have a choice to earn simple interest on $10,000 for three years at 8% or annually compounded interest at 7.5% for three years which one will pay more and by how much?
Select one:
a. Simple interest by $50.00
b. Compound interest by $22.97
c. Compound interest by $150.75
d. Compound interest by $150.00
e. None of the above.