Trey Gorman invests $5,000 in a 1-year certificate of deposit that earns interest at an annual rate of 4% compounded monthly. The amount per $1.00 is 1.040742. How much interest will he earn at the end of one year?
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Home » Mathematics » Trey Gorman invests $5,000 in a 1-year certificate of deposit that earns interest at an annual rate of 4% compounded monthly. The amount per $1.00 is 1.040742. How much interest will he earn at the end of one year?