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Interest-on-Interest Consider a $2,400 deposit earning 11 percent interest per year for 8 years. How much total interest is earned on interest (excluding interest earned
Interest-on-Interest Consider a $2,400 deposit earning 11 percent interest per year for 8 years. How much total interest is earned on interest (excluding interest earned on the original deposit)?
a) $211.20
b) $3,130.89
c) $1,018.89
d) $2,112.00
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