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Joy has $4200 that she wants to invest in a savings account for 3.4 years, at which time she plans to close out the account
Joy has
$4200
that she wants to invest in a savings account for 3.4 years, at which time she plans to close out the account and use the\ money as a down payment on a condominium. She finds one local bank offering an annual interest rate of
2.47%
compounded daily\ (Bank 1), and another bank offering an annual interest rate of
2.53%
compounded quarterly (Bank 2). Which bank should she choose?
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