Problem Solving (PS) | Elliot and Faye invest $5000 each in different banks

Elliot and Faye invest $5000 each in different banks. Elliot earns annual rate of interest 12% compounded monthly and Faye earns annual rate of interest 12% compounded quarterly. If after 6 months Elliot earns a total interest of E, and Faye earns a total interest of F, which of the following must be true?

A. E=F
B. E>F
C. E<F
D. E=$300
E. F=$300