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Jerome deposits $3500 in a certificate of deposits that pays 1.8% interest compounded annually. How much Interest does jerome earn in 1 year?​

Jerome deposits $3500 in a certificate of deposits that pays 1.8% interest compounded annually. How much Interest does jerome earn in 1 year?​
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Jerome deposits $3500 in a certificate of deposits that pays 1.8% interest compounded annually. How much Interest does jerome earn in 1 year?​

User DCurro
by
8.4k points

1 Answer

6 votes
3,500(1.8%) = 63


Jerome will earn 63 more dollars in the next year.

$3,563
User Ahmed Abobakr
by
7.8k points
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