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Posted on Jul 24, 2024

Daniel is looking to open a new savings account. Bank [A] offers 3% interest on first $30,000 and 5% interest on any amount over $30,000.

Daniel is looking to open a new savings account. Bank [A] offers 3% interest on first $30,000 and 5% interest on any amount over $30,000. Bank [B] offers 2% interest and $1,000 bonus. If Daniel wants to deposit $55,000, which bank savings account is a better offer and by how much?

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