They are very different 1/10 is equivalent to 10% and also 0.1 but 1/100 is equivalent to 1% and 0.01
The formula for the compound interest is given as

To check the value for the compounding at 8.01% daily

By compounding the value at 8.02% monthly
Answer: SECOND OPTION
Step-by-step explanation:
You can solve the system of equations by the method of substitution:
- You must susbtitute the second equation into the first equation and solve or x:

- Now, you must susbtitute the value of x obtained above into the second equation to calculate the value of y. Then, you have:

Therefore, you obtain:
(
)