What is the difference in the amount of interest

Reference no: EM132758653

Problem 1: Suppose $4320.00 is invested for five years, eight months at 8.25% compounded annually. What is the compounded amount?

Problem 2: The Rob U Blind Bank advertises capital savings at 7.128% compounded semi-annually while Take Your Money Trust offers premium savings at 7.1% compounded monthly. Suppose you have $4400.00 to invest for two years.

a) Which deposit will earn more interest?
b) What is the difference in the amount of interest?

Reference no: EM132758653

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