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An investment of $250 pays 11% annual interest, compounded quarterly. What is the interest earned in 10 years? $479.44 $729.44 $739.97 $489.97
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4 votes
An investment of $250 pays 11% annual interest, compounded quarterly. What is the interest earned in 10 years?

$479.44

$729.44

$739.97

$489.97

User Jackr
by
7.6k points

2 Answers

4 votes
The interest earned in 10 years is B. $739.97.
User NKCP
by
8.4k points
6 votes
$489.97 is the answer. 250*2.95987 = 739.9675-250= $489.97
User Sharanya Dutta
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8.1k points
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