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

asked Mar 3, 2018 36.9k views

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

by Jackr

5.7k points

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4 votes

The interest earned in 10 years is B. $739.97.

NKCP answered Mar 5, 2018

by NKCP

6.3k points

6 votes

$489.97 is the answer. 250*2.95987 = 739.9675-250= $489.97

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