Question 1149281
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Account A: 5% APR, compounded monthly (12 times per year)<br>
(1) monthly interest rate: 5% (i.e., 0.05) divided by 12
(2) monthly growth factor: 1 plus the monthly interest rate
(3) annual growth factor: monthly growth factor, to the 12th power
(4) APY: annual growth factor, minus 1<br>
Account B: same process; different numbers.<br>
You can do the calculations....<br>