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(Solved): The Continental Bank advertises capital savings at 7.9% compounded annually while TD Canada Trust o ...




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The Continental Bank advertises capital savings at compounded annually while TD Canada Trust offers premiurn savings at compounded monthly. Suppose you have to invest for two years. (a) Which deposit will earn more interest? (b) What is the difference in the amount of interest? (a) The savings account will earn more interest (b) The difference is (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed)


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Given,
Continental Bank :
Interest rate,  ,
Number of years   ,
Compounded annually,  ,
Initial Principal...
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