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The Morgans have $ 1 5 , 0 0 0 to invest for 5 years. They can invest at Union Savings Bank and receive 1
The Morgans have $ to invest for years. They can invest at Union Savings Bank and receive interest compounded annually. Metropolitan Bank offers him a rate of interest with monthly compounding. Which bank should The Griffins choose? How much more interest will they earn at that bank?
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