First city bank pays 10 simple interest on its savings, Financial Management

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First city bank pays 10 simple interest on its savings

First City Bank pays 10% simple interest on its savings account balances, whereas Second City Bank pays 10% interest compounded annually. If you made a deposit of $10,000 in each bank, how much money would you earn from your Second City Bank account at the end of seven years. (FIND BOTH EVEN THOUGH BOOK SAYS JUST SECOND CITY)

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Financial Management: First city bank pays 10 simple interest on its savings

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