Question

Doug puts $1,200,000 into an account that earns 3.9% APR compound annually. How much money will Doug earn each year in interest?

Answer 1

1,200,000(1+.039)^1=1,246,800

Explanation:

inital is the money 1,200,000

R=percent (rate)

T=time which is the exponents

A=total

Answer 2

Answer: 46,800

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