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First Bank of Belmont offers a savings account with an APR of 5% with daily compounding. United Charlotte Bank offers a savings account with an

First Bank of Belmont offers a savings account with an APR of 5% with daily compounding. United Charlotte Bank offers a savings account with an APR of 5.1% with monthly compounding. Which bank would you prefer to use for your savings? Explain why (Use numbers! Be sure to explain why you prefer one number to the other number).

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