Suppose 17, 000.00 is invested in an account for 15 years. Calculate the total interest earned at the end of 15 years if the interest is 5% compounded monthly

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Solución

Solución

Interest : 18932.97

Pasos de solución

Translate the problem into an equation:

35932.96685 \dots = 17000 + I

Resolver para

I, 35932.96685 \dots = 17000 + I : I = 18932.97

Interest : 18932.97

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