Third City Bank pays 11.26% with simple interest on its savings accounts, while Fourth City Bank pays 11.26% but with compound interest paid quarterly. If you made a deposit of $12,000 into Third City Bank, and a deposit of $12,000 into Fourth City Bank, and were invested for thirteen years, which of the following is correct?

Multiple Choice

• You would have $33,264.18 more in your Third City Bank account.

• You would have $33,264.18 more in your Fourth City Bank account.

• You would have $34,438.38 more in your Fourth City Bank account.

• You would have $21,264.18 more in your Third City Bank account.

• You would have the same amount in each bank.

• You would have $18,472.85 more in your Fourth City Bank account.

• You would have $17,341.71 more in your Fourth City Bank account.

• You would have $21,264.18 more in your Fourth City Bank account.