Question: Please answer this question and give me step by step solution Illustration 3: Vasquez Company deposits $10,000 in the Last National Bank, where it will

Please answer this question and give me step by step solution

Illustration 3: Vasquez Company deposits $10,000 in the Last National Bank, where it will earn simple interest of Simple vs. 9% per year. It deposits another $10,000 in the First State Bank, where it witt earn compound Compound interest of 9% per year compounded annually. In both cases, Vasquez will not withdraw any interest until 3 vears from the date of deposit

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