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The Continental Bank advertises capital savings at 7.8% compounded annually while TD Canada Trust offers premium savings at 7.65% compounded monthly. Suppose you have $3000

The Continental Bank advertises capital savings at 7.8% compounded annually while TD Canada Trust offers premium savings at 7.65% compounded monthly. Suppose you have $3000 to invest for two years. (a) Which deposit will earn more interest? (b) What is the difference in the amount of interest? ---- (a) The savings account will earn more interest. (b) The difference is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

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