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You have $5,300 to invest. Regency Bank offers 6 percent per year compounded monthly (.50 percent per month), while King Bank offers 6 percent but

You have $5,300 to invest. Regency Bank offers 6 percent per year compounded monthly (.50 percent per month), while King Bank offers 6 percent but will only compound annually.

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How much will your investment be worth in 16 years at each bank?

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