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How much money would have in both bank accounts

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Reference no: EM132563647

Bank of Baroda pays 4% simple interest on its savings account balances, whereas Canara Bank pays 4% interest compounded annually.

Question 1: If you made a $12,000 deposit in each bank, how much money would you have in both bank accounts at the end of 7 years? (Show your work for each bank)

Reference no: EM132563647

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