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Business, 19.09.2019 22:00 pennygillbert

The local bank pays 4% annual interest on savings deposits. in a nearby town, the bank pays 1% per quarter. a man who has $3,425 to deposit wonders whether the higher interest paid in the nearby town justifies driving there. if all money is left in the account for 4 years, how much more interest would he obtain if the out-of-town bank was chosen? (calculate the difference of obtained interests)

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