What interest will be earned if $6500 is invested for 2 years at 11% compounded monthly? (Round your answer to the nearest cent.) $=
What interest will be earned if $6500 is invested for 2 years at 11% compounded monthly? (Round your answer to the nearest cent.) $=
Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter10: Exponential And Logarithmic Functions
Section10.2: Applications Of Exponential Functions
Problem 25PS
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What interest will be earned if $6500 is invested for 2 years at 11% compounded monthly? (Round your answer to the nearest cent.)
$=
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