APPLICATION Camila received a $1,200 prize for one of her essays. She decides to invest
Chapter 6, Problem 12(choose chapter or problem)
APPLICATION Camila received a $1,200 prize for one of her essays. She decides to invest $1,000 of it for college. Her bank offers two options. The first is a regular savings account that pays 2.5% interest every 6 months. The second is a certificate of deposit that pays 5% interest each year. a. With the savings account, how much would Camila have after 1 year? After 2 years? b. With the certificate of deposit, how much would Camila have after 1 year? After 2 years? c. Explain why you get different results for 12a and b.
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