How Much Interest Is Earned in 10 Years on $8000

question 17

Multiple Choice

How much interest is earned in 10 years on $8000 deposited in an account that pays 7% interest, compounded monthly? Round your answer to the nearest cent.

• A) $8046.67
• B) $8077.29
• C) $4846.37
• D) $16,077.29
• E) $8070.00

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