Problem $5-1$ Simple Interest versus Compound Interest $[$LO$1]$

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 $$58,000$ 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$.,32\mathrm{.}16.)$

$\backslash$table$[[$Difference in accounts,$$,0\mathrm{.}00]]$