A.) First City Bank pays 7 percent simple interest on its savings account bala

A.) First City Bank pays 7 percent simple interest on its savings account balances whereas Second City Bank pays 8 percent interest compounded annually. If
you made an $8 000 deposit in each bank how much more money would you earn from your Second City bank account at end of 10 years?

B.) Calculating Future Values. For each of the following:

Present Value Years Interest Rate Future Value

3150 6 18% ?

8453 19 6 ?

89305 13 11 ?

227382 29 5 ?

C.) Solve the unknown interest rate in each of the following:

Present Value Years Interest Rate Future Value

715 6 ? 1381

905 7 ? 1718

15000 18 ? 141832

70300 21 ? 312 815