In this activity, you will write and compare exponential expressions to find the best interest rate. Let's revisit the scenario from the start of the lesson: Karen wants to save the $250 that she earned over the summer from babysitting. She is trying to decide which type of savings account would be best for her. All of the accounts she's considering offer different interest rates that are compounded at different intervals in a year.
Which account do you think will earn the most interest? Why?
A - Account 1: 3.5% compounded yearly
B - Account 2: 3.475% compounded monthly
C - Account 3: 3.45% compounded weekly
D - Account 4: 3.425% compounded daily