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David has £5000 that he wishes to save for six years. Bank A offers him an interest rate of 4% per annum compounded monthly. Bank B offers him an interest rate of 3.95% per annum compounded continuously. (a) Determine how much David would have in each bank after six years.
(b) Which Bank would give David the most interest? How much more interest?
Suppose years of schooling, s , is the only variable that affects earnings. The equations for the weekly salaries of male and female workers are given by w m = 500 + 100 s and
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