First City Bank pays 8 percentsimple interest on its savings account balances, whereas Second City Bank pays8
Question:
First City Bank pays 8 percentsimple interest on its savings account balances, whereas Second City Bank pays8 percent interest compounded annually. If you made a deposit of $9,000 in eachbank, how much more money would you earn from your Second City Bank accountat the end of seven years?
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Related Book For 
Fundamentals of Corporate Finance
ISBN: 978-0077861704
11th edition
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
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