You have $7,700 to deposit. Regency Bank offers 9 percent per year compounded monthly (.75 percent per month), while King Bank offers 9 percent but will only compound annually.
Required:
How much will your investment be worth in 20 years at each bank? (Enter rounded answers as directed, but do not use rounded numbers in intermediate calculations. Round your answers to 2 decimal places (e.g., 32.16).)