Word Problem $12-15($Algo$)[$LU $12-1(3)]$

Melvin Indecision has difficulty deciding whether to put his savings in Mystic Bank or Four Rivers Bank. Mystic offers $20\%$ interest compounded semiannually. Four Rivers offers $16\%$ interest compounded quarterly. Melvin has $$10,700$ to invest. He expects to withdraw the money at the end of $4$ years.

Calculate interest for each bank and identify which bank gives Melvin the better deal? $($Use the Table provided.$)$

Note: Do not round intermediate calculations. Round your answers to the nearest cent.

$\backslash$table$[[,$Mystic,Four Rivers,Better deal$],[$Interest$,,,]]$