Question

What is the interest earned in a savings account for 12 months on a balance of $4000 of the interest rate is 1.5% APR compounded earlier

Answer 1

answer: 60.00

Based on the given conditions, formulate:: 4000x
((1.5%+1)12/12-1)

Evaluate the equation/expression:: 60

Round 60 to the required place rounding: 60.00

Answer 2

4,060 is the answer to this question