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Your parents have $5,000.00 to deposit. Alpha Bank offers 2 percent per year compounded monthly. Bravo Bank offers 2 percent compounded annually. Compute the amount

Your parents have $5,000.00 to deposit. Alpha Bank offers 2 percent per year compounded monthly. Bravo Bank offers 2 percent compounded annually. Compute the amount of deposit after being kept 10 years at each bank. Explain the difference between the two (2) future values.

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