20-10-2022
Mathematics

contestada

Monica has recently inherited $8100, which she wants to deposit into an IRA account. She has determined that her two best bets are an account that compounds daily at an annual rate of 2.9% (Account 1) and an account that compounds monthly at an annual rate of 4.6% (Account 2).

Step 1 of 2 : Which account would pay Monica more interest?

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