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First City Bank pays 6% simple interest on its savings account balances, whereas Second City Bank pays 6% compounded annually. If you made a deposit
First City Bank pays 6% simple interest on its savings account balances, whereas Second City Bank pays 6% compounded annually. If you made a deposit of $8,100 in each bank, how much more money would you earn from our Second City Bank account at the end of 10 years?
(Please explain to me how to calculate this with a financial calculator, not step by step formulas)
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