Question: Chaim has won $5000 and wants to save it towards buying a house in six years when he finishes his law degree. He has

Chaim has won $5000 and wants to save it towards buying a

Chaim has won $5000 and wants to save it towards buying a house in six years when he finishes his law degree. He has the choice between an account which compounds daily with an APR of 7%, and another account which also has a 7% APR but compounds quarterly. How much more interest will he have if he chooses the first account? (round to 2 decimal places)

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