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Mathematics 7 Online
OpenStudy (anonymous):

Chelsea invested $15,000 at 4% interest compounded annually. How much interest will she earn in 4 years?

jimthompson5910 (jim_thompson5910):

Hint: Use the formula \[\Large A = P(1+\frac{r}{n})^{n*t}\] to find the total amount A that's in the account in 4 years. Then compute A - P to find the interest earned.

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