Sofia wants to put her summer earnings into a bank account. The First Equations Bank offers a savings account that pays interest according to the function f(t) = a(1.04)t, where a is the initial balance and t is the time in years. The You Figure Bank has a savings account that pays 3.9% annual interest compounded daily. Which account should Sofia choose? Justify your answer. Homework Help ✎
First Equations is the better choice.