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An amount of $500 is placed in an account with an annual interest rate of 5% compounded monthly. How much interest is earned in the first ten years? Round to the nearest cent. Enter the number only. Do
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An amount of $500 is placed in an account with an annual interest rate of 5% compounded monthly. How much interest is earned in the first ten years? Round to the nearest cent. Enter the number only. Do not enter the $ sign.

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