3-56 Bank North advertises, We pay 6.50%, compounded daily. Bank South says, We pay 6.50%, com- pounded

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3-56 Bank North advertises, "We pay 6.50%, compounded daily." Bank South says, "We pay 6.50%, com- pounded continuously." If you deposit $10,000 with Bank South for one year, how much additional inter- est will you receive?

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Answered By

Aniket Bansal

I have been tutoring from past 3 years and usually give online and offline classes for Mathematics , Statistics and Economics for 11th, 12th and first year graduation students . I love teaching and consider it to be a part of my daily routine . i dedicate 2hours everyday which helps me in managing my studies and tutoring both at the same time . I am an Actuarial Aspirant as well with 6 papers of Actuarial Science from Institute and Faculty of Actuaries . Apart from this , i am a silver badged subject matter expert at chegg as well . Moreover , i have been giving home tuitions for chess coaching as well from past 2 years . Teaching is one of my hobbies and i would like to continue it in future as well as it ensures a firm grip on basic concepts and getting interacted with different students , helping them with different type of problems gives me immense happiness and cherry on the cake is that i am able to earn enough to settle my basic expenses while helping others . Overall my past years experience in teaching was pretty good and i would like to continue that run in future too .

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