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Ethan invests $3000 in a mutual fund that earns 6% interest per year compounded monthly. After 10 years, the investment is worth $5,458.19. How much interest did he earn?

Respuesta :

Answer:

[tex]A = P(1 +\frac{r}{n} )^{nt}[/tex]

A = 3000(1 + .06/12)^120

strange the question did not want you to calculate the amount

that was given....

the interest is 5,458.19 - 3000 = 2,458.19

Step-by-step explanation:

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