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19 August, 00:33

preston received a paycheck for $900.00 and he wants to invest it in a savings account. A savings account at bank A earns 4% interest compounded monthly and a savings account at bank B earns 5% simple interest. If Preston plans to deposit the $900.00 and leave it in the account for 3 years, at which bank would he earn more interest?

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  1. 19 August, 01:57
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    Bank A; he would earn a total $432, while only $132 at Bank B.
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