contestada

Whitney deposits for two years. She compares two different banks. State Bank will pay her 4.1% interest, compounded monthly. Kings Savings will pay her 4.01% interest, compounded
continuously.

Respuesta :

HoustonVXO

Answer:

State Bank,$16.21

Explanation:

Result part (a): $767.74

Result part (b): $751.53

we note that the results of part (a) is higher and thus State Bank earns more interest.

we are also interested in the difference of the interest:

$767.74 - $751.53 = $16.21

Thus State Bank will result in $16.21 more interest.