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Tiara deposited $10,000 into an account that earned 15% compound interest over 10 years. What is the amount of interest earned after 10 years? A: $15,000 B: $30,455.60 C: $25,00…

Tiara deposited $10,000 into an account that earned 15% compound interest over 10 years. What is the amount of interest earned after 10 years? A: $15,000 B: $30,455.60 C: $25,00…
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3 votes
Tiara deposited $10,000 into an account that earned 15% compound interest over 10 years. What is the amount of interest earned after 10 years?

A: $15,000
B: $30,455.60
C: $25,000
D: $40,455.60

asked
User Abdelsalam Shahlol
by
8.0k points

2 Answers

10 votes

Answer:

The final balance is $44,402.15.

The total compound interest is $34,402.15.

answered
User David Webster
by
8.2k points
7 votes
15% of 10,000 is 1,500 and 1,500x10=15,000 meaning Tiara earned $15,000 in interest over 10yrs
answered
User Fourslashw
by
8.2k points
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