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Jerome deposits $4,700 in a certificate of deposit that pays 6 1/2% interest, compounded annually. How much interest does Jerome earn in one year? show the work ​

Jerome deposits $4,700 in a certificate of deposit that pays 6 1/2% interest, compounded annually. How much interest does Jerome earn in one year? show the work ​
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Jerome deposits $4,700 in a certificate of deposit that pays 6 1/2% interest, compounded annually. How much interest does Jerome earn in one year? show the work ​

asked
User Xavier John
by
8.4k points

1 Answer

7 votes

Answer:

$305.5

Explanation:

answered
User Ayman Farhat
by
8.0k points
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