You have $7,700 to deposit. Regency Bank offers 9 percent per year compounded monthly (75 percent per month), while King Bank offers 9 percent but will only compound annually. How much will your investment be worth in 20 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 $7,700 to deposit. Regency Bank offers 9 percent per year compounded monthly ( 75 percent per month), while King Bank offers 9 percent but will only compound annually. How much will your investment be worth in 20 years at each bank? Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16