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You can bank on us (or them) (S). You wish to invest $1000 for a year, and you have two investment options: Happy Bank will pay you 3% compounded annually, while Glee Bank offers 2.5% compounded quarterly. To maximize your income, which bank would earn your business and give you a real smile? Justify your answer by analyzing both options.
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The Heart of Mathematics: An Invitation to Effective Thinking
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