INVESTING Kimiyo is planning to invest money in a savings account. She is comparing the interest rates of savings accounts at two banks. Bank A offers a savings account with 2.1% interest compounded annually. Bank B offers a savings account with a quarterly compounded interest rate of 0.8%.

a. Write a function to represent the balance A of Kimiyo's account after t years through Bank A, assuming an initial investment of $1. Then write an equivalent function that represents quarterly compounding. Round to the nearest ten-thousandth, if necessary.

Which is the better plan? Explain.

Blank A or B has the better plan because the effective quarterly interest rate is what percentage %, which is greater than the quarterly interest rate of blank % at blank A or B

c. What is the approximate effective annual interest rate at Bank B? How does your result relate to your answer to part b?

The approximate effective annual interest rate at Bank is about blank%.
This confirms with the result of part b as the annual interest rate at blank A or B is greater than the annual interest rate at Blank A or B