. Seth’s current bank offers a 1-year certificate of deposit account paying 2% compounded semiannually. A competitor bank is also offering 2%; but compounded daily. If Seth invests the $100,000, how much more money will he have in the second bank after one year, due to the daily compounding?

Question

.  Seth’s current bank offers a 1-year certificate of deposit account paying 2% compounded semiannually.  A competitor bank is also offering 2%; but compounded daily.  If Seth invests the $100,000, how much more money will he have in the second bank after one year, due to the daily compounding?

Reed · Answer

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Michael · Answer

how do i figure this answer out im confused