### Home > INT2 > Chapter 12 > Lesson 12.2.1 > Problem 12-64

12-64.

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.