7) You have $800 to invest into a bank for 10 years and are trying to choose between two banks. Bank A offers 5% interest compounded annually and Bank B offers 4.9% interest compounded weekly. Determine how much money you would have from each bank assuming no more money was put in or taken out to determine which bank you should use.

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07-12-2022
Mathematics

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7) You have $800 to invest into a bank for 10 years and are trying to choose between two banks. Bank A offers 5% interest compounded annually and Bank B offers 4.9% interest compounded weekly. Determine how much money you would have from each bank assuming no more money was put in or taken out to determine which bank you should use.

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