Priya has $4,000 and is considering two investment options at different banks. Doncare Bank offers 5.5% interest compounded annually, and Trust No.1 Bank offers 6.6% interest compounded quarterly.
a. Doncare Bank is a better option for Priya.
b. Trust No.1 Bank is a better option for Priya.
c. Both banks offer the same return on investment.
d. More information is needed to determine the better option.