You have inherited a sum of money from your long lost relative, Uncle Pennybags. You want to invest this money today so that you can use it as a down payment on your first home. Which of the following three investment options should you choose to maximize your savings?
a. Mutual Fund “A” which pays 6.12% compounded monthly
b. Money Market “B” which pays 6.00% compounded quarterly
c. Regular Savings Account “C” which pays 5.90% compounded continuously