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saul85 [17]
3 years ago
5

A savings account offers 0.8% interest compounded bimonthly. If Bob deposited $300 into this account, how much interest will he

earn after 10 years?​
Mathematics
1 answer:
loris [4]3 years ago
4 0

Answer:

$288

Step-by-step explanation:

We first need to find what 0.8% of 300 makes and to do that we multiply 300 with 0.8 and divide that by 100

<em>300*(0.8)/100</em> = 2.4 this is the monthly interest

Now we need to find how much it'd be after 10 years

There are<em> 10*12 = 120</em> months in 10 years

<em>120*(2.4) = 288 </em>is the interest Bob will earn after 10 years

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