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B. Find the amount of interest earned during the 8 years. Eight thousand dollars is deposited in a savings account at 6% interest compounded monthly.
B. Find the amount of interest earned during the 8 years.
Eight thousand dollars is deposited in a savings account at 6% interest compounded monthly. Find the balance after 8 years and the amount of interest eared during that time. The balance after 8 years will be s (Do not round until the final answer. Then round to two decimal places as needed.)Step by Step Solution
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Essentials Of Investments
Authors: Zvi Bodie, Alex Kane, Alan J. Marcus
8th Edition
0077606779, 978-0697789945
