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First City Bank pays 7 . 6 % simple interest on its savings account balances, whereas Second City Bank pays 7 . 6 % interest

First City Bank pays

7.6 %

simple interest on its savings account balances, whereas Second City Bank pays

7.6 %

interest compounded annually. If you made a deposit of $

5, 300

in each bank, how much more money would you earn from your Second City Bank account at the end of

10

years?

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