Two banks have different methods of paying interest on their deposits. The 1st bank pays a nine percent simple interest. The 2nd bank pays the same interest rate but it has the interest-on-interest effect every year. If you put seven and a half thousand dollars into the 2nd bank, then one can show that the money will be growing faster than in the 1st bank: for example, one can show that in exactly eight years there'll be $ more. (Do not round your intermediate calculations. Round your final answer to 2 decimal places. E.g.. type 12.34 if you got "12 dollars and 34 cents".) Difference in accounts