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First City Bank pays 7 percent simple interest on its savings account balances, whereas Second City Bank pays 7 percent interest compounded annually. If you

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First City Bank pays 7 percent simple interest on its savings account balances, whereas Second City Bank pays 7 percent interest compounded annually. If you made a deposit of $12,000 in each bank, how much more money would you earn from your Second City Bank account at the end of 9 years? Select one a. $2,298.45 b. $2,709.25 C-$1,324.68 d. $2,501.51 e. $2,356.91

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