First city bank pays 6 percent simple interest on its, Finance Basics

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First city bank pays 6 percent simple interest on its

Question: 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 $8,100 in each bank, how much more money would you earn from your Second City account at the end of 10 years?

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