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Hannah has 2000 that she wishes to invest for 5 years. She is considering two different accounts and needs to choose which to invest
Hannah has 2000 that she wishes to invest for 5 years. She is considering two different accounts and needs to choose which to invest in. Account A pays 1.7% interest per year compounded annually. Account B pays 1.6% interest per year compounded monthly. a) Calculate the expected value after 5 years if she invested the 2000 in each of the accounts. b) Which account should she choose and why?
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