Two years ago, YZX deposited $1,180 in an account that has earned and will earn 10.50 percent per year in compound interest. If BAC deposits $1,220 in an account today that earns simple interest, then how much simple interest per year must BAC earn to have the same amount of money in 8 years from today as YZX will have in 8 years from today? Answer as an annual rate. 20.72% (plus or minus .05 percentage points) 20.31% (plus or minus .05 percentage points) 14.37% (plus or minus .05 percentage points) 14.78% (plus or minus .05 percentage points) None of the above is within .05 percentage points of the correct answer