The Continental Bank advertises capital savings at $6\mathrm{.}2\%$ compounded annually while TD Canada Trust offers premium savings at $6\mathrm{.}05\%$ compounded monthly. Suppose you have $$$$1000$ to invest for two years.

$($a$)$ Which deposit will earn more$$ interest?

$($b$)$ What is the difference in the amount of$$ interest?

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Part $1$

$($a$)$ The

$$

Continental Bank

TD Canada Trust

savings account will earn more interest.