Answer:
She should choose the Simply Savings Bank, since she'll earn around 2 dollars more in comparison to the other bank.
Step-by-step explanation:
A simple interest rate account yields a return that follows the formula below:
Where C is the invested money, r is the interest rate and t is the elapsed time in years.
While a compound interest rate account yields a return that follows the formula below:
Therefore for the Simply Saving Bank she'll earn:
While the Capital Bank she'll earn:
She should choose the Simply Savings Bank, since she'll earn around 2 dollars more in comparison to the other bank.