SOLUTION: $20000 is invested at 4.2% per annum, compounding monthly. How much interest is paid in the fourth year?

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Question 983708: $20000 is invested at 4.2% per annum, compounding monthly. How much interest is paid in the fourth year?
Answer by solver91311(24713) About Me  (Show Source):
You can put this solution on YOUR website!


Calculate the interest paid over the entire 4 years. Calculate the interest paid over the first 3 years. Find the difference.

John

My calculator said it, I believe it, that settles it