First City Bank pays 6 percent simple interest on its savings account balances, whereas Second City Bank
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Question:
First City Bank pays 6 percent simple interest on its savings account balances, whereas Second City Bank pays 6 percent interest compounded annually. If you made a $63,000 deposit in each bank, how much more money would you earn from your Second City Bank account at the end of 10 years?
Related Book For
Fundamentals of corporate finance
ISBN: 978-0073382395
9th edition
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
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