Question

2. Bank A is offering a 3%, compounded annually,
savings account guaranteed for two years. Bank B
is offering a 2%, compounded half yearly, savings
account guaranteed for three-half years. Which
bank would yield the most on a principal of
5600? What is the amount difference between the
two bank accounts?​

Answer 1

Answer:

amount difference=5944-5941=4

Step-by-step explanation:

for bank A compound annually

A=P(1+R/100)*n

for bank B compound half yearly

A=P(1+(R/2)/100)*2n