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Problem 629

AIME late

Algebra Difficulty 5.1 Find the answer

# Task 5.

1000 rubles are deposited in a bank for 10 years. In which case will the depositor receive more money: if the bank accrues $5 \%$ once a year, or if it accrues $\frac{5}{12} \%$ once a month.

This one wants a proof. Work it on paper, read the official solution, then mark yourself honestly — the ladder only means something if the record is true.

Official solution

The answer must be justified.

Source: NuminaMath-1.5, licensed Apache-2.0. Statement and solution reproduced as published; topic, difficulty and ordering added by this site.