Question
1. Simple Interest verus Compound Interest {LO1] First City Bank pays 7 percent simple interest on its savings account balances, whereas Second City Bank pays
1. Simple Interest verus Compound Interest {LO1] First City Bank pays 7 percent simple interest on its savings account balances, whereas Second City Bank pays 7 percent interest on its compounded annually. If you made a $6,000 deposit in each bank, how much more money would you earn from your Second City Bank account at the end of nine years? Please show work so I can fully understand how to do this. Thank you!
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Analysis Of Financial Data
Authors: Gary Koop
1st Edition
0470013214, 978-0470013212
