Suppose you deposited $200 per month into a savings plan for 15 years, and at the end of that period your balance was $45,700. The amount you earned in interest was
a. $10,700.
b. impossible to compute without knowing the APR.
c. $9,700

Question

Suppose you deposited $200 per month into a savings plan for 15 years, and at the end of that period your balance was $45,700. The amount you earned in interest was
 a. $10,700.
 b. impossible to compute without knowing the APR.
 c. $9,700

dn_20 · Answer

The answer is B, since you didn't give any information about the APR.

anonymous · Answer

Thank you