Bank a offers to pay you 6 interest on savings deposits


Bank A offers to pay you 6% interest on savings deposits, while bank B will pay 1.5% per 3-month period (quarterly). You want to make a deposit of $1340 to put into a savings account. Assuming you want to leave all money in the account for 3 years, how much additional interest would be obtained from bank B over bank A?

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Business Economics: Bank a offers to pay you 6 interest on savings deposits
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