You are considering investing $1,000 at an interest rate of 6.5% compounded annually for five years or investing the $1,000 at 6.8% per year simple interest for five years. Whichoption

is better? The future value of Option 1 (6.5% compounded annually) is $(Round to the nearest dollar.) The future value of Option 2 (simple interest of 6.8% per year) is $(Round to the nearest dollar.) Select the correct choice from the drop-down menu below. (1)-is better. (1) O Option 1 O Option 2