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Browns Bank pays 8 percent simple interest on its...

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Accounting

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Browns Bank pays 8 percent simple interest on its savings account balances, whereas Raiders Bank pays 8 percent compounded annually. If you made a $5,000 deposit in each bank how much more money would you earn from your Raiders Bank account at the end of 10 years? Do not round intermediate calculations and round your final answer to 2 decimal places. 1

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