## Lia has $1,000 to put in a savings account. She is choosing between two Banks . Bank A offers 5% compounded quarterly & Bank B offers 5.

Question

Lia has $1,000 to put in a savings account. She is choosing between two Banks . Bank A offers 5% compounded quarterly & Bank B offers 5.1% compounded semi-annually. If Lia plans on keeping her money in a savings account for a year , which bank would pay her more in interest, and by how much ? A. Bank A by 70.5 cents B. Bank B by 33 cents C.Bank B by 70.5 cents D. Bank A by 33 cents

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2021-10-04T20:53:28+00:00
2021-10-04T20:53:28+00:00 1 Answer
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## Answers ( )

Answer:C. Bank B by 70.5 cents

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