A principal amount of $14,390 is placed in a savings account with an annual interest rate of 4.13% compounded monthly. How much interest does the account earn after 21 years? $19,814.06 $19,865.03 $34,204.06 $34,255.03
A principal amount of $14,390 is placed in a savings account with an annual interest rate of 4.13% compounded monthly. How much interest does the account earn after 21 years? $19,814.06 $19,865.03 $34,204.06 $34,255.03
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter7: Exponents And Exponential Functions
Section: Chapter Questions
Problem 69SGR
Related questions
Question
A principal amount of $14,390 is placed in a savings account with an annual interest rate of 4.13% compounded monthly. How much interest does the account earn after 21 years?
$19,814.06
$19,865.03
$34,204.06
$34,255.03
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