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Please show your work if possible and label answer. Thank you. 2. (5%) Two local banks offer the following 1-year Certificates of Deposit: Bank 1:

Please show your work if possible and label answer. Thank you.

2. (5%) Two local banks offer the following 1-year Certificates of Deposit: Bank 1: 10% per year compounded annually Bank 2: 9.8% per year compounded monthly In which bank should you deposit your money? Justify your

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