Question: Melvin indecision has difficulty deciding whether to put his savings in Mystic Bank or Four Rivers Bank Mystic offers 13% interest compounded semiannualy. Four Rivers

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Melvin indecision has difficulty deciding whether to put his savings in Mystic Bank or Four Rivers Bank Mystic offers 13% interest compounded semiannualy. Four Rivers offers 9% interest compounded quarterly. Melvin has $12,000 to invest. He expects to whthow the money at the end of 10 years Calculate the interest earned at the end of Melvin's investment period at each bank, Identify which bank gives him the better doal? (Do not round intermediate calculations. Round your answer to the nearest cent.)

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