# Steve invested $2,500 in The Branch Bank this morning at 7 percent compound annual interest. After making

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## Question:

Steve invested $2,500 in The Branch Bank this morning at 7 percent compound annual interest. After making this investment, he discovered that he could put his money in Tyler Bank and earn a compounded 7 percent quarterly interest. How much additional interest would Steve have earned over the next 5 years if he had invested in Tyler Bank instead of The Branch Bank?

**Related Book For**

## Smith and Roberson Business Law

ISBN: 978-0538473637

15th Edition

Authors: Richard A. Mann, Barry S. Roberts