Mathematics, 18.03.2021 03:10, LaDariusL33

Sumaya is considering investing $8500 into the bank. Bank A offers 2.25% interest rate compounded semiannually. Bank B offers 1.75% interest compounded monthly. She is planning on leaving the money in the account for 5 years until she goes to college.

Which bank should Sumaya go with and how much more will she make at that bank in the five years?

A. Bank A - she will make $1341.56 more

B. Bank B - she will make $1341.56 more.

C. Bank A - she will make $230.02 more.

D. Bank B - she will make $230.02 more.

Answers: 3

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Sumaya is considering investing $8500 into the bank. Bank A offers 2.25% interest rate compounded se...