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The Cotrertal Bank advert captat savings at 5.5% compounded annually while TD Canadia Trust offors premium savings at 5.35% compounded monthly. Suppose you have $3000

The Cotrertal Bank advert captat savings at 5.5% compounded annually while TD Canadia Trust offors premium savings at 5.35% compounded monthly. Suppose you have $3000 to invest for 3 yrs.

(a) Which deposit will earn more intrest?

(b)what is the difference in the amount of interest? (Round final ans to nearest cent and the intermediate values to six decimal places as needed)

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