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4) You go to Melvindale Bank because you heard they have good interest rates on deposits. You meet with the bank manager and she says

4) You go to Melvindale Bank because you heard they have good interest rates on deposits. You meet with the bank manager and she says they have two account options, Option A pays 8% interest compounded annually. Option B pays 7.85% compounded daily. You plan to deposit $15,000 today for five years. How much would you have in five years if you selected option A? How much would you have if you selected option B

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