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OpenStudy (anonymous):
Lia has $1000 to put in a savings account. She is choosing between two banks. Bank A offers 5% compounded quarterly and Bank B offers 5.1% compounded semiannually. If Lia plans on keeping her money in a savings account for a year, which bank would pay her more in interest, and by how much? A. Bank B by 70.5 cents B. Bank B by 33 cents C. Bank A by 33 cents D. Bank A by 70.5 cents
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