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You have $5,300 to deposit. Regency Bank offers 6 percent per year compounded monthly (.5 percent per month), while King Bank offers 6 percent but

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You have $5,300 to deposit. Regency Bank offers 6 percent per year compounded monthly (.5 percent per month), while King Bank offers 6 percent but will only compound annually. How much will your investment be worth in 16 years at each bank? (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Regency Bank King Bank

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