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Business, 13.02.2020 01:35 UndeadDelta

Bank of Pomona pays 9 percent simple interest on its high rewards checking accounts. Bank of San Dimas, instead, pays 9 percent interest, and it has annual compounding. Let's say, you make a $7,500 deposit in each of these two banks. Calculate how much more money you would be able to earn from the Bank of San Dimas account at the end of eight years. (Do not round intermediate calculations and round your answer to 2 decimal places. E. g., type 32.16 for "32 dollars and 16 cents".)

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