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You Have $500 Invested in an Account Earning 7

Question 136

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You have $500 invested in an account earning 7.6% interest compounded annually. Suppose the interest rate were compounded monthly instead, that is you earned You have $500 invested in an account earning 7.6% interest compounded annually. Suppose the interest rate were compounded monthly instead, that is you earned % interest each month. How much interest would you then earn for a year? % interest each month. How much interest would you then earn for a year?

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