Question: Calculating Future Values [LO 1] You have $7,000 to deposit. Regency Bank offers 12 percent per year compounded monthly (1 percent per month), while King

Calculating Future Values [LO 1] You have $7,000 to deposit. Regency Bank offers 12 percent per year compounded monthly (1 percent per month), while King Bonk offers 12 percent but will only compound annually. Required: How much wilt your investment be worth in 20 years at each bank? (Enter rounded answers as directed, but do not use rounded numbers in intermediate calculations. Round your answers to 2 decimal places (e.g., 32.16).)

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