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How much more money would earn from second city bank

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Reference no: EM132496149

First City Bank pays 7 percent simple interest on its savings account balances, whereas Second City Bank pays 7 percent interest compounded annually.

Question 1: If you made a $56,000 deposit in each bank, how much more money would you earn from your Second City Bank account at the end of 9 years?

Reference no: EM132496149

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