Seventeen thousand dollars is deposited in a savings account at 3% interest compounded monthly. Find the balance after 4 years and the amount of interest earned during that time. The balance after 4 years will be S (Do not round until the final answer Then round to two decimal places as needed.)

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A: Topic = Algebra

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Q: Find the final amount of money in an account if $6, 500 is deposited at 2.5 % interest compounded…

A: Let's find.

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A: For compound interest we use formula A=P1+rnntWhen P is initial amount investedr is the rate of…

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Q: compounded quarterly

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Q: Find the final amount of money in an account if $4, 700 is deposited at 2.5 % interest compounded…

A: solution:-

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