please provide me answer within 10 minutes

You have a $1000 in your pocket, compensation money for having to take BUQU 1130 with an irritating prof. You decide you had better put the money in the bank. You walk past two banks. One is advertising 7% compounded monthly. The other 8% compounded annually. Of course you want the one giving the most interest. After one year, what is the DIFFERENCE in interest earned between the two? Two decimal places, no $