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

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3.84 points First City Bank pays 6 percent simple interest on its savings account balances, whereas Second City Bank pays 6 percent interest compounded annually Required: If you made a deposit of $7,500 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).) Difference References Worksheet Learning Objective: 04-01 Determine the future value of an investment made today Difficulty: 1 Basic Section: 4.1 Future Value And Compounding Check my work

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