2. (a) Ally and AJ each made a deposit into a savings account with annual compounding and cashed it out 10 years later. Ally invested $3000 at a rate of 4%. AJs rate was only 3.5%, but she ended up with the same amount of money in the account after 10 years. How much did AJ invest initially? Briefly explain.

(b) Would you be better off with a savings account with an annual rate of 6.55% compounded daily or one with an annual rate of 6.68% compounded quarterly? Briefly explain.