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Herbert has deposited $12,000 into an account that pays 4.7% interest per annum compounded annually, for exactly nine years. The amount of interest on interest

Herbert has deposited $12,000 into an account that pays 4.7% interest per annum compounded annually, for exactly nine years. The amount of interest on interest that Herbert will earn is

Select one:

a. $1,177.68

b. $955.68

c. $1,388.68

d. $1,066.68

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