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12 October, 12:13

Suppose that you invest $400 in a bank account that has APR of 6% and it is compounded monthly (12 times a year)

How much money will you have in your account after 1 year?

What is the amount of interest earned in 1 year?

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  1. 12 October, 12:27
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    The answer would be $804.88
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