Gibbs Schmidt
08/15/2024 · Senior High School
I1 Points] DETAILS MY NOTES AUFQR2 4.2.P.002. PREVIOUS ANSWERS A business analyst deposited \( \$ 40,000 \) into an account earning an annual interest rate of \( 5.3 \% \) compounded monthly. If the analyst leaves the money in the account for 2 years, how much interest (in dollars) is earned on the account? (See Example 2 in this section. Round your answer to the nearest cent.) Enter a number. \( \$ \)
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The interest earned on the account after 2 years is approximately \( \$4385.84 \).
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