invest $5000in a 1 year certificate of deposit that earns intrest at an annual rate of 4% compounded monthly. the amount per $1 is 1.040742. how much intrest will he earn at the end of one year?

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asked Sep 23, 2020 106k views

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invest $5000in a 1 year certificate of deposit that earns intrest at an annual rate of 4% compounded monthly. the amount per $1 is 1.040742. how much intrest will he earn at the end of one year?

Mathematics
middle-school

Palak Bansal asked

by Palak Bansal

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1 Answer

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Answer: $5,203.71

Explanation:

1.040742

x 5 000

5203.710 000

Martijn Van De Rijdt answered Sep 29, 2020

by Martijn Van De Rijdt

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