6. Sasha wants to earn the maximum interest on her money. She decides to deposit $50 in two different banks for 90 days (3 months) to compare them before she deposits all of her money. She finds a bank that compounds interest daily at an annual rate of 2.2% and another bank that compounds interest monthly at an annual rate of 4.8%. With which bank will she earn more money?

6. Sasha wants to earn the maximum interest on her money. She decides to deposit $50 in two different banks for 90 days (3 months) to compare them before she deposits all of her money. She finds a bank that compounds interest daily at an annual rate of 2.2% and another bank that compounds interest monthly at an annual rate of 4.8%. With which bank will she earn more money?

Algebra and Trigonometry (6th Edition)

6th Edition

ISBN:9780134463216

Author:Robert F. Blitzer

Publisher:Robert F. Blitzer

ChapterP: Prerequisites: Fundamental Concepts Of Algebra

Section: Chapter Questions

Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...

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