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?

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