How much would the second city bank account be worth

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Reference no: EM131902228

First City Bank pays 1.3 percent simple interest on its savings account balances, whereas Second City Bank pays 6.8 percent interest compounded annually.

If you made a $536 deposit in each bank, how much more would the Second City Bank account be worth than the First City Bank account at the end of 5 years?

(Round time value factors to 6 decimal places and final answer to the nearest dollar amount. Omit the "tiny_mce_markerquot; sign and commas in your response. For example, $123,456 should be entered as 123456.)

Reference no: EM131902228

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