Solution-First complex bank account

First complex bank account

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First Simple Bank pays 8 percent simple interest on its savings account balances, whereas First Complex Bank pays 8 percent interest compounded annually.

If you made a $18,000 deposit in each bank, how much more money would you earn from your First Complex Bank account at the end of 12 years.

Reference no: EM131066471

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First complex bank account

Reference no: EM131066471

Reference no: EM131066471

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