Simple interest on its savings account balances

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Reference no: EM132000416

Sberbank Bank pays 9 percent simple interest on its savings account balances, whereas Gazprombank Bank pays 9 percent compounded annually. If you deposited $36,000 in each bank, how much ore money would you earn from the Gazprombank Bank account at the end of 4 years?

Please illustrate a timeline with all variables, calculations, and formulas.

Reference no: EM132000416

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