First City Bank pays 8 percent simple interest on its savings account balances, whereas Second City Bank pays 8 percent interest compounded annually. 8. If you made a deposit of $14,500 in First City Bank, what would be your balance at the end of 9 years? Select one: a. Less than $20,000 b. More than $26,000 c. $22,000 to $24,000 d. $20,000 to $22,000 e. $24,000 to $26,000 9. If you made a deposit of $14,500 in Second City Bank, what would be your balance at the end of 9 years? Select one: a. $24,000 to $26,000 b. $22,000 to $24,000 c. More than $26,000 d. $20,000 to $22,000 e. Less than $20,000 Q10. How much was the compound interest in this example? Select one: a. $3,000 to $4,000 b. $4,000 to $5,000 c. $2,000 to $3,000 d. Less than $2,000 e. More than $5,000