Real life situation for the product for the number4•(2)

(40 points) i need some . an answer definition is appreciated as well.

Scott harris can invest $7,000 in a 1-year cd that earns interest at an annual rate of 4 percent compounded monthly. the amount per $1.00 is 1.040742. he can also invest $7,000 in a 1-year cd at annual rate of 4 percent compounded quarterly. the amount per $1.00 is 1.040604. what is the difference in the amount of interest earned for each investment? a) $0.96 b) $0.81 c) $0.87 d) $0.88

You have 12 balloons to blow up for your birthday party. you blow up 1/3, and your friend blows up 5 of them. what fraction of the baloons still need blowing up