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Tessa has recently inherited $5600, which she wants to deposit into a CD account. She...

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Basic Math

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Tessa has recently inherited $5600, which she wants to deposit into a CD account. She has determined that her two best bets are an account that compounds monthly at an annual rate of 4.7% (Account 1) and an account that compounds semi-annually at an annual rate of 5.1% Which account would pay Tessa more interest?

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