First City Bank pays 6 percent simple interest on its savings account balances, whereas Second City Bank pays 6 percent

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 $66,000 in each bank, how much more money would you earn from your Second City Bank account at the end of 10 years

Leave a Reply

Your email address will not be published. Required fields are marked *