The Continental Bank advertises capital savings at 7.1% compounded annually while TD Canada Trust offers premium savings

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The Continental Bank advertises capital savings at 7.1% compounded annually while TD Canada Trust offers premium savings at 7.03% compounded monthly. Suppose you have $2500 to invest for two years.

(a) Which deposit will earn more interest?

(b) What is the difference in the amount of interest?

Related Book For answer-question

Statistics The Art and Science of Learning from Data

ISBN: 978-0321755940

3rd edition

Authors: Alan Agresti, Christine A. Franklin

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Posted Date: Oct 20, 2020 04:16 PM

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The Continental Bank advertises capital savings at 7.1% compounded annually while TD Canada Trust offers premium savings

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Statistics The Art and Science of Learning from Data

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