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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 ​

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 Xavier John
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1 Answer

7 votes

Answer:

$305.5

Explanation:

User Ayman Farhat
by
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