1. First City Bank pays simple interest on its savings account balances, whereas Second City Bank pays interest compounded annually. Both banks pay 8 percent interest. If you made a deposit of $9819 in each bank, how much more money would you earn from your Second City Bank account at the end of 8 years? (Do not round intermediate calculations and provide answer to two decimal places, i.e. 32.16)

2. Compute the future value for the following: (Provide answer to two decimals, i.e. 32.16)

Present Value: 205121

Years: 25

Interest rate: 5

3. Compute the future value for the following: (Provide answer to two decimals, i.e. 32.16)

Present Value: 157595

Years: 13

Interest rate: 8