Richard C. answered • 11/07/22
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Confidence-building Geometry tutor with 18 years experience
Odai A.
asked • 11/07/22Interest earned problem
Suppose $23,000 is invested in an account with an APR of 4.9%
A.If the interest is compounded annually, how much interest is earned over the first 6 years?
B. If the interest is compounded monthly, how much interest is earned over the first 6 years?
C. If the interest is compounded daily, how much interest is earned over the first 6 years?
D. If the interest is compounded continuously, how much interest is earned over the first 6 years?
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