First City Bank pays $7\mathrm{.}5\%$ simple interest on its savings account balances, whereas Second City

Bank pays $7\%$ interest compounded annually. If you made a deposit of $$8,600$ in each bank, how

much more money would you earn from your Second City Bank account at the end of $8$ years?

How much from First Bank?

Imprudential, Incorporated, has an unfunded pension liability of $$450$ million that must be paid in

$20$ years. To assess the value of the firm's stock, financial analysts want to discount this liability

back to the present. If the relevant discount rate is $5\mathrm{.}200\%,$ what is the present value of this

liability?

At $4\mathrm{.}3$ percent interest, how long does it take to double your money?