Question: simple interest verus compound interest Simple Interest versus Compound Interest Lo1] First City Bank pays 7.5 percent simple interest on its savings account balances, whereas

simple interest verus compound interest

Simple Interest versus Compound Interest Lo1] First City Bank pays 7.5 percent simple interest on its savings account balances, whereas Second City Bank pays 75 percent interest compounded annually. If you made a deposit of $8,600 in cach bank, how much more money would you earn from your Second City Bank account at the end of eight years

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