Simple interest versus compound interest first city bank, Ask an Expert

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Simple interest versus compound interest. First city bank pays 6 percent simple interest on its savings account balances, whereas second city bank pays 6 percent interest compounded annually. If you made a deposit of $7,500 in each bank, how much more money would you earn from your second city bank account at the end of 10 years?

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Financial Management, Finance

Category:- Financial Management
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