Mathematics
Mathematics, 07.04.2020 08:18, laureimaneaxel

Thomas wants to save money for college, and is considering two different savings accounts in which to hold his money. The first account has an interest rate of 9%, compounded semi-annually. The second account has an interest rate of 5%, and is compounded monthly. If he deposits $5,000.00 in one of the accounts, and intends to let the money sit in the account for 8 years, which account will have the higher balance at the end of 8 years?

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