You have $7,600 to deposit. Regency Bank offers 12 percent per year compounded monthly (1.0 percent per month), while King Bank offers 12 percent but will only compound annually. How much will your investment be worth in 16 years at each bank? Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Regency Bank King Bank

You have $7,600 to deposit. Regency Bank offers 12 percent per year compounded monthly (1.0 percent per month), while King Bank offers 12 percent but will only compound annually. How much will your investment be worth in 16 years at each bank? Note: Do not round intermedlate calculations and round your answers to 2 decimal places, e.g., 32.16