1.First City Bank pays 6 percent simple interest on its savings account balances, whereas Second City Bank pays 6 percent interest compounded annually.

If you made a $72,000 deposit in each bank, how much more money would you earn from your Second City Bank account at the end of 10 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.

2. Solve for the unknown interest rate in each of the following. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)

Present Value	Years	Interest Rate		Future Value
$160	4		%	$192
280	18			733
31,000	19			128,034
30,261	25			350,964