A bank offers two types of investment, the first one offers $200 rebate, and its annual interest rate is 2.3% every year. The

Question

A bank offers two types of investment, the first one offers $200 rebate, and its annual interest rate is 2.3% every year. The second investment has no rebate but offers 4% annual interest that is compounded monthly. If you have $1500 to deposit, which option is better if you decide to withdraw ten years later?

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