Michelle invested $10000 in an account that earns 8.5% interest that is compounded monthly. Determine the amount of interest earned on the principal in 15 years.

$25,626.53

Step-by-step explanation:

You are going to want to use the compound interest formula, which is shown below.

P = initial balance

r = interest rate (decimal)

n = number of times compounded annually

t = time

First, change 8.5% into a decimal:

8.5% -> -> 0.085

Now lets plug in the values into the equation:

Lastly, subtract the total from the initial balance:

Michelle earned $25,626.53 in interest.

19.

step-by-step explanation:

you add the 9 in the tens column since it is a single digit and 9 plus zero is 9 so it is 19

true !

step-by-step explanation: