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For question (a) the options are (TD Canada Trust, or Continental Bank) The Continental Bank advertises capital savings at 6.3% compounded annually while TD Canada

image text in transcribed For question (a) the options are (TD Canada Trust, or Continental Bank)

The Continental Bank advertises capital savings at 6.3% compounded annually while TD Canada Trust offers premium savings at 6.05% compounded monthly. Suppose you have $2000 to invest for two years. (a) Which deposit wll earn more interest? (b) What is the difference in the amount of interest? (a) The | savings account will earn more interest. (b) The difference is S Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

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