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third city bank pays 12.46% with simple interest on its savings account, while fourth city bank pays 12.46% but with compound interest paid quarterly (both
third city bank pays 12.46% with simple interest on its savings account, while fourth city bank pays 12.46% but with compound interest paid quarterly (both rates are APR)
If you made a deposit of $12,000 into Third City Bank, and a deposit kf $14,000 into Fourth City Bank, and were invested for 18 years, which of the two accounts would have more money in them?
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