Question: Problem 4-1 Simple Interest versus Compound Interest (LO 1] 1.04 First City Bank pays 7 percent simple interest on its savings account balances, whereas Second

Problem 4-1 Simple Interest versus Compound Interest (LO 1] 1.04 First City Bank pays 7 percent simple interest on its savings account balances, whereas Second City Bank pays 7 percent interest compounded annually. points (8 01:22:06 If you made a deposit of $12,000 in each bank, how much more money would you earn from your Second City Bank account at the end of 9 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) eBook Difference References

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