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scoundrel [369]

3 years ago

15

isabel deposits$6000 into an account that earns1.5% interest compounded monthly. assuming no more deposits and no withdrawals ar

e made, how much money is in the account after 4 years?

1 answer:

timama [110]3 years ago

3 0

Interest earned in a month
(1.5/100) * 6000
90

Number of months in 4 years
12*4
48

So the interest earned in 4 years
90*48
4320 dollars

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