iMiraiLepus16 iMiraiLepus16

15-03-2017
Mathematics

Answered

Lizbeth deposited $6200 into a savings account for which interest is compounded monthly at a rate of 2.37%.

How much interest will she earn after 8 years?

Verified Answer :

Aliwohaish12 Aliwohaish12

15-03-2017

A=6,200×(1+0.0237÷12)^(12×8)
A=7,492.95
Interest earned 7492.95-6200=1492.95

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Anonymous Anonymous

22-03-2017

3,840$ i think its right thats what i got its a lot of work im only in 7th grade and i know this hope this was helpful.....

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