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First City Bank pays 4.5 percent simple interest on its savings account balances, whereas Second City Bank pays 6.3 percent interest compounded annually. If you

First City Bank pays 4.5 percent simple interest on its savings account balances, whereas Second City Bank pays 6.3 percent interest compounded annually. If you made a $565 deposit in each bank, how much more would the Second City Bank account be worth than the First City Bank account at the end of 7 years?

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