1) A) You have $15,100 in a savings account that has been paying 5.2% interest,...
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A) You have $15,100 in a savings account that has been paying 5.2% interest, compounded weekly. If you made one deposit when you opened the account exactly 8 years ago and made no other deposits after that, how much did you initially deposit in the account? Assume 52 weeks per year.
B) Bank A offers an interest of 4% compounded daily, while bank B offers continuous compounding at 3.87% APR. If you deposit $6,292 with each bank, what will be the difference in the two bank account balances after 4 years? Enter your answer as a positive number.
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