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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.

Question

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?

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Mathematics
6 months
2021-08-28T11:15:46+00:00
2021-08-28T11:15:46+00:00 1 Answers
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## Answers ( )

Answer: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: