A principal amount of $14,390 is placed in a savings account with an annual interest rate of 4.13% compounded monthly. How much interest does the account earn after 21 years?  $19,814.06  $19,865.03  $34,204.06  $34,255.03

College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section8.4: Mathematics Of Finance
Problem 17E: Mortgage what is the monthly payment on a 30-year mortgage of $100,000 at 8% interest per year,...
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A principal amount of $14,390 is placed in a savings account with an annual interest rate of 4.13% compounded monthly. How much interest does the account earn after 21 years?

 $19,814.06 

$19,865.03 

$34,204.06 

$34,255.03

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