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 deposit

of $$55,000$ 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$.,32\mathrm{.}16.)$