A collector purchased a rare book for $97.56 and then sold the book in an online auction for $141.82. The auction charged the co
2 answers:
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hello,
the first term is 250 so this is the initial invested amount
is to compute 8% annual interest compounded monthly (there are 12 months in a year)
and then multiply by 4 means that it is computed for 4 years so
finally the answer is
$250 is invested at 8% annual interest compounded monthly for 4 years
hope this helps