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Joseph is a friend of yours. He has plenty of money but little financial conto. He received a gin of $16.000 for his recent graduation

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Joseph is a friend of yours. He has plenty of money but little financial conto. He received a gin of $16.000 for his recent graduation and is looking for a bank in which to deposit the funds. Partners' Savings Bank offers an account with an annual interest rate of 3.00% compounded semiannually, while Selwyn's offers an account with a 2.75% annut rate compounded continuously Coloulate the value of the two accounts at the end of one year and recommend to Joseph which account he should choose The future value, Fof the 10,000 deposit with the Partner Savings Bank in Round to the nearestent) The future value, FV,, of the $16,000 deposit with the Selwyn Savings Bank in $(Round to the nearest cert) Which bank should Joseph choose? (Select the best answer below) OA Partners Savings Bank OB. Selwyn Savings Bank

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