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27 April, 03:01

You have $1000.00 to invest in a savings account. You have 2 choices of investments.

The first choice is Falcon Bank & Trust. They offer a simple interest rate of 10.50% annually [each year].

The second choice is Bank of Oakley which offers a compounded interest rate of 10.00% annually which is

compounded monthly.

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Answers (1)
  1. 27 April, 05:12
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    The second choice because you get more money every month unlike every year. in one year you'll have 120% which is greater than 10.50%
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