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If I invest $4,000 for one year in a CD that earns interest at a rate of 4% compounded monthly what is the interest earned during the year

If I invest $4,000 for one year in a CD that earns interest at a rate of 4% compounded monthly what is the interest earned during the year
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If I invest $4,000 for one year in a CD that earns interest at a rate of 4% compounded monthly what is the interest earned during the year

asked
User Radhwane Chebaane
by
8.1k points

1 Answer

2 votes

Answer:

$4,000×4/100=

106 years

answered
User BlueBadger
by
8.7k points
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