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Jerome deposits $4,700 in a certificate of deposit that pays 6 1/2% interest, compounded annually. How much interest does Jerome earn in one year? show the work ​
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Jerome deposits $4,700 in a certificate of deposit that pays 6 1/2% interest, compounded annually. How much interest does Jerome earn in one year? show the work ​

User Bhavinjr
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Answer:

Explanation:

If Jerome deposits $3,700 at 6 1/2 % compounded annually what would be his interest earned. He would earn $240.50.

User Chella
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