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NOTE: PLEASE USE EXCEL FOR EXCEL FORMULA 1. PNC Bank pays 5% simple interest on its savings account balances, whereas First Niagara Bank pays 5%

NOTE: PLEASE USE EXCEL FOR EXCEL FORMULA

1. PNC Bank pays 5% simple interest on its savings account balances, whereas First Niagara Bank pays 5% interest compounded annually. If you made a deposit of $20,000 in each bank, how much money would you earn from both bank accounts at the end of 10 years?

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