Provide an appropriate response.You have a choice of two banks. One bank pays interest at 5.54% compounded monthly and the other bank pays interest at 5.53% compounded daily (365 times a year). Which is the better choice? How much more would you make in one year if you deposited $1000?

Fill in the blank(s) with the appropriate word(s).


5.53% daily. $0.02

Mathematics

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Mathematics