At the end of each month, $300 is deposited into a savings account paying 2.9% interest compounded monthly. The balance after 11 years wil be $46,579.29. Whatthe amount of interest eamed?A.....The amount of interest earned is S(Round to the nearest cent as needed.)

Answered: Image /qna-images/answer/e14814ad-22da-4ccc-ab62-c8e3bb7c61e4.jpg

Answered: Al the end of each month, $300 is…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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Al the end of each month, $300 is deposited into a savings account paying 2.9% interest compounded monthly. The balance after 11 years will be $46,579.29. What the amount of interest earmed? A..... The amount of interest earned is $ (Round to the nearest cent as needed.)