Person A deposits $2700 in an account that pays 5% interest compounded once a year. Person B deposits $2350 in an account that pays 6% interest compounded monthly. Complete parts (a) through (c)...

Extracted text: Person A deposits $2700 in an account that pays 5% interest compounded once a year. Person B deposits $2350 in an account that pays 6% interest compounded monthly. Complete parts (a) through (c) below. Click the icon to view some finance formulas. ..... a. Who will have more money in their account after one year? How much more? Select the correct choice below and fill in the answer box within your choice. (Round to the nearest dollar as needed.) O A. Person B will have $ more than Person A. O B. Person A will have $ 340 more than Person B. b. Who will have more money in their account after five years? How much more? Select the correct choice below and fill in the answer box within your choice. (Round to the nearest dollar as needed.) O A. Person A will have $ more than Person B. O B. Person B will have $ more than Person A.