SOLUTION: Please help me with this question: You deposit $1,000 in an account offering an 8% yield, compounded semi-annually. At the end of one year, your total earned interest is?

SOLUTION: Please help me with this question: You deposit $1,000 in an account offering an 8% yield, compounded semi-annually. At the end of one year, your total earned interest is?

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Question 117482:
Please help me with this question:
You deposit $1,000 in an account offering an 8% yield, compounded semi-annually. At the end of one year, your total earned interest is?
Answer by checkley71(8403) (Show Source): You can put this solution on YOUR website!
I=PRT
I=1,000*.08*1
I=$80 IS THE INTEREST FOR 1 YEAR ON $1,000 INVESTED @ 8%.
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