Item $1$

You have $$7,500$ to deposit. Regency Bank offers $15$ percent per year compounded monthly $(1\mathrm{.}25$ percent per month$),$ while King Bank offers $15$ percent but will only compound annually. How much will your investment be worth in $17$ years at each bank?

Note: Do not round intermediate calculations and round your answers to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$