SOLUTION: Find the amount of interest earned for a deposit of $24,677.23 at 9.72% compounded monthly for 32 months.
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Question 479034: Find the amount of interest earned for a deposit of $24,677.23 at 9.72% compounded monthly for 32 months.
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
A=24677.23(1+0.0972/12)^32
A=24677.23(1.0081)^32
A=24677.23*1.29454
A=31945.67
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31945.67-24677.23=$7,268.44 interest earned
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