Erin deposited $500 in a savings account earning 8% interest annually and compounded monthly to the nearest cent how much interest will she earn in 10 years

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asked Jul 4, 2021 28.8k views

3 votes

Erin deposited $500 in a savings account earning 8% interest annually and compounded monthly to the nearest cent how much interest will she earn in 10 years

Mathematics
high-school

Daniel Rosenwasser asked

by Daniel Rosenwasser

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1 Answer

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Answer:

$400

Explanation:

$500 multiplied by 8% = $40

If you multiply $40 by 10 years that equals $400.

Hexium answered Jul 8, 2021

by Hexium

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