Check my work 11 Problem 5-1 Simple Interest versus Compound Interest (LO1] 8.33 First City Bank pays 8 percent simple interest on its savings account balances, whereas Second City Bank pays 8 percent interest compounded annually. points Skipped If you made a $61,000 deposit 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 round your answer to 2 decimal places, e.g., 32.16.) eBook Difference in accounts $ C References