You have $1,000 to deposit in the account for 1 year. Compare the following two offers. • Bank of Avalon pays 0.8% with no annual fee. Cypress Savings pays 1.5%, but charges a $10 annual fee. Which is the better offer? Show your work and then write a one- or two-sentence conclusion. .

Algebra: Structure And Method, Book 1
(REV)00th Edition
ISBN:9780395977224
Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Chapter3: Solving Equation And Problems
Section3.7: Costs, Income, And Value Problems
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You have $1,000 to deposit in the account for 1 year. Compare the following two offers.
• Bank of Avalon pays 0.8% with no annual fee.
Cypress Savings pays 1.5%, but charges a $10 annual fee.
Which is the better offer? Show your work and then write a one- or two-sentence conclusion.
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Transcribed Image Text:You have $1,000 to deposit in the account for 1 year. Compare the following two offers. • Bank of Avalon pays 0.8% with no annual fee. Cypress Savings pays 1.5%, but charges a $10 annual fee. Which is the better offer? Show your work and then write a one- or two-sentence conclusion. . Edit Insert Formats E BIUX₂ X² A He ER Question Help: Message instructor Calculator Submit Question GO Al ΣΣΑ
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Algebra: Structure And Method, Book 1
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