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Third City Bank pays 12.22% with simple intersst on its savings accounts, while Fourth City Bank pays 12.22% but with compound interest paid semi-annually (both
Third City Bank pays 12.22% with simple intersst on its savings accounts, while Fourth City Bank pays 12.22% but with compound interest paid semi-annually (both rates are APR)
If you made a deposit of $15000 into Third City Bank, and a deposit of $17000 into Fourth City Bank, and were invested for 13 years, how much more would fourth city bank have in their account than third city bank?
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