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Nahum wants to invest a sum of twelve thousand dollars for a period of ten months. He was given two investment options. First Option: Bank
Nahum wants to invest a sum of twelve thousand dollars for a period of ten months.
He was given two investment options.
First Option: Bank A will pay an interest rate of four percent compounded continuously.
Second Option: Bank B will pay an interest of four percent compounded monthly.
He needs your advice on which option to choose. Of course, you advised him to choose the first option.
Calculate the difference (how many cents difference) is the amount he will earn in Bank A and the amount he will earn in Bank B?
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