Question
First City Bank pays 8 percent simple interest on its savings account balances, whereas Second City Bank pays 8 percent interest compounded annually. If you
| First City Bank pays 8 percent simple interest on its savings account balances, whereas Second City Bank pays 8 percent interest compounded annually. |
| If you made a $71,000 deposit in each bank, how much more money would you earn from your Second City Bank account at the end of 8 years?(Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
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Fundamentals of Investments, Valuation and Management
Authors: Bradford Jordan, Thomas Miller, Steve Dolvin
8th edition
1259720697, 1259720691, 1260109437, 9781260109436, 978-1259720697
