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The bank offers your deposit of 10000$ at 12% stated interest rate compounded monthly. Determine the rate of interest you can earn in a year

User Cschorn
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1 Answer

6 votes

Answer:

$1200.00

Step-by-step explanation:

S.I = PRT

S.I = 10000×12/100×1

S.I = 1200

User Adam Sills
by
7.7k points
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