Katie has S15,000 to invest in an account earning 4.75% interest, compounded monthly. How much interest has Katie earned after 5 years?

Intermediate Algebra
10th Edition
ISBN:9781285195728
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter11: Exponential And Logarithmic Functions
Section11.2: Applications Of Exponential Functions
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6. Katie has S15,000 to invest in an account earning
4.75% interest, compounded monthly. How much
interest has Katie earned after 5 years?
7. If Katie withdraws $10,000 at the end of the
second year, how much interest will she lose?
8. How much interest is earned on an investment
of $5200 earning 7.5% interest, compounded
annually, over a period of 3 years?
A. $22.50
B. $1259.94
C. $2250
D. $459.95
Shot on OnePlus ualintereet rato who
the ameunt of
By VKJ
Transcribed Image Text:6. Katie has S15,000 to invest in an account earning 4.75% interest, compounded monthly. How much interest has Katie earned after 5 years? 7. If Katie withdraws $10,000 at the end of the second year, how much interest will she lose? 8. How much interest is earned on an investment of $5200 earning 7.5% interest, compounded annually, over a period of 3 years? A. $22.50 B. $1259.94 C. $2250 D. $459.95 Shot on OnePlus ualintereet rato who the ameunt of By VKJ
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