An investment of $8,350 earns 5.2% interest compounded monthly over 10 years. approximately how much interest is earned on the investment? a. $4,342 b. $5,513 c. $5,679 d. $13,863
An Investment Of $8,350 Earns 5.2% Interest Compounded Monthly Over 10 Years. Approximately How Much Interest Is Earned On The Investment? A. $4,342 B. $5,513 C. $5,679 D. $13,863
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An Investment Of $8,350 Earns 5.2% Interest Compounded Monthly Over 10 Years. Approximately How Much Interest Is Earned On The Investment? A. $4,342 B. $5,513 C. $5,679 D. $13,863. P = the principal amount (the initial amount. The interest earned from an investment of $8,350 at 5.2% compounded monthly over 10 years is approximately $5,406.38.
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Approximately how much interest is earned on the investment? An investment of $7,650 earns interest at the. Approximately how much interest is earned on the investment?
How Much Total Interest Will.
To solve this problem, we'll use the formula for calculating the future value of an investment with compound interest, which is a = p (1 + \frac {r} {n})^ {nt}a =p (1+ nr)nt. A = the amount of money accumulated after n years, including interest. An investment of $8,350 earns 5.2% interest compounded monthly over 10 years.
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Calculate the amount of interest earned by subtracting the initial investment from the total amount accumulated. An investment of $8,350 earns 5.2% interest compounded monthly over 10 years. Approximately how much interest is earned on the investment?
Approximately How Much Interest Is Earned On The Investment?
An investment of $8,350 earns 5.2% interest compounded monthly over 10 years. The compound interest formula is a = p (1 + r/n)^ (nt), where: P = the principal amount (the initial amount.
Given An Initial Investment Of $8,350 At A 5.2% Interest Rate Compounded Monthly For 10 Years, We Can Calculate The Future Value Of The Investment And Then Subtract The Original.
The closest answer to this calculation is c. Learn how to calculate the interest earned on an investment with compound interest formula. Approximately how much interest is earned on the investment?
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The interest earned from an investment of $8,350 at 5.2% compounded monthly over 10 years is approximately $5,406.38. An investment of $7,650 earns interest at the.