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
Correct Answer:
Verified
Correct Answer:
Verified
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