Question
First City Bank pays 8 percent simple interest on its savings account balances, whereas Second City Bank pays 8 percent interest compounded annually. Required: If
| First City Bank pays 8 percent simple interest on its savings account balances, whereas Second City Bank pays 8 percent interest compounded annually. |
| Required: |
| If you made a deposit of $10,500 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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Evolutionary Finance
Authors: Bartholomew Frederick Dowling
1st Edition
0230502199, 9780230502192
