Bank C promises to pay a compound annual interest rate of 6%,while Bank S pays a 10% simple annual interest rate,on deposits.If you deposit $1,000 in each bank,and do not make any withdrawals,after 10 years your deposit in Bank C equals _________,while your deposit in Bank S equals __________.
A) $1,060;$1,100
B) $1,600;$2,000
C) $1,600;$2,594
D) $1,791;$2,000
E) $1,791;$1,100
Correct Answer:
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