What equation models the growth of William and Monica's account balance over time in years if they deposit $20,000 into an account that pays 4.75% interest, compounded daily? What would be the account balance after 8 years if no additional deposits or withdrawals are made? a) A = 20000 x (1 + 0.0475/365)³⁶⁵ᵗ b) A = 20000 x (1 + 0.0475/365)⁸ c) A = 20000 x (1 + 0.0475)⁸ A = 20000 x (1 + 0.0475/365)³⁶⁵ˣ⁸
