What is the value of the interest earned by the investor

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Suppose you have $2,000 to invest for 4 years. Bank A is willing to pay 5% simple interest and Bank B is willing to pay 4% compounded monthly. Which bank pays the highest total interest? What is the value of the interest earned by the investor?

Bank A, $431.01

Bank B, $2,346.40

Bank B, $2,431.01

Bank A, $346.40

Reference no: EM13980712

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