Ava opens an account with $400. She deposits $200/month for 20 years. The interest rate is 2.15%. How much interest will she have

earned after 20 years?

O a $61,243.59

Ob $48.800

OC 12.443.59

d. None of the above.

Question

Mathematics

Kailey Swanson

20 June, 02:56

Ava opens an account with $400. She deposits $200/month for 20 years. The interest rate is 2.15%. How much interest will she have

earned after 20 years?

O a $61,243.59

Ob $48.800

OC 12.443.59

d. None of the above.

+3

Answers (1)

Know the Answer?

Cameron Sanford · Answer 1

d. None of the above = $24,118.96 is the interest accumulated set at 2.15% interest.

Step-by-step explanation:

2400 x 20 x 1.0215^19 = 71906.8535769

plus + 400 x 1.0215^20 = 612.107091074 the answer is 72518.960668 saved after 20 years

72518.960668 - 48400 = 24118.960668

rounded to 2dp = $24,118.96 interest.

Ava opens an account with $400. She deposits $200/month for 20 years. The interest rate is 2.15%. How much interest will she haveearned after 20 years?O a $61,243.59Ob $48.800OC 12.443.59d. None of the above.

Ava opens an account with $400. She deposits $200/month for 20 years. The interest rate is 2.15%. How much interest will she have

earned after 20 years?

O a $61,243.59

Ob $48.800

OC 12.443.59

d. None of the above.