Jenny has $300. She found a bank with an interest rate of 3.8% compounded monthly. How much interest would she earn in one year? (Round to the nearest cent-- 2 decimal places)

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asked Jun 5, 2022 30.9k views

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Jenny has $300. She found a bank with an interest rate of 3.8% compounded monthly. How much interest would she earn in one year? (Round to the nearest cent-- 2 decimal places)

Mathematics
high-school

Kumar Akarsh asked

by Kumar Akarsh

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1 Answer

2 votes

Answer:

311.60

Explanation:

Terence Chow answered Jun 10, 2022

by Terence Chow

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