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Bank of Baroda pays 4% simple interest on its savings account balances, whereas Canara Bank pays 4% interest compounded annually. If you made a $12,000

Bank of Baroda pays 4% simple interest on its savings account balances, whereas Canara Bank pays 4% interest compounded annually.

If you made a $12,000 deposit in each bank, how much money would you have in both bank accounts at the end of 7 years? (Show your work for each bank)

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