1. First City Bank pays 7 percent simple interest on its savings account balances, whereas Second City Bank pays 7 percent interest compounded annually. If you made a deposit of $14,000 in each bank, how much more money would you earn from your Second City Bank account at the end of 12 years? What are you being asked to solve here? Please show your solution: 2. You will be receiving a bonus of $10,000 in one year's time if your performance at work meets expectations. If the appropriate discount rate is 8%, what is your bonus worth today? What are you being asked to solve? Please show your solution: 3. At 4.50 percent interest, how long does it take to double your money? What are you being asked to solve? Please show your solution: At 4.50 percent interest, how long does it take to quadruple your money