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Please show solution. Thank you. 5. Mr. Mendoza plans to open an investment account. There are two banks he is considering. In Bank A, he
Please show solution. Thank you.
5. Mr. Mendoza plans to open an investment account. There are two banks he is considering. In Bank A, he should deposit P4000 at the end of every month, and it earns 3.7% interest compounded monthly. In Bank B, he should deposit P12 000 at the end of every three months, and it earns 8% interest compounded quarterly, Which of the two options will accumulate more money after 10 years? (4 points)
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