Answer:
The amount that we should deposit in each bank is around $942.
Step-by-step explanation:
Case 1:
A=$1000
n = 12
t = 2
r = 3% or 0.03
p = ?
The compound interest formula is :

Substituting values in the formula;

=> 
=> 

p = $941.84
Case 2:
A=$1000
n = 365
t = 2
r = 3% or 0.03
p = ?

=> 
=>

p = $941.76
The amount that we should deposit in each bank is around $942.
Answer:
the correct answer is a
Step-by-step explanation:
Answer:
A) 75%
B) 74%
Step-by-step explanation:
A) 18/24=0.75
B) 37/50= 0.74