Question

Erick has $10,000 to invest for ten years. Bank A offers CDs at 8.75% compounded annually, while Bank B offers 8.75% compounded semi-annually. If Erick invests his money in Bank B, how much more money will Erick have in his account versus investing in Bank A?​

Answer 1

Explanation:

Here is the answer

The final answer is $8750

But see the details in this paper.