The $300 invested at the given rate will amount to $412.92. The correct option is C. $412.92
Compound interest
From the question, we are to determine how much $300 will amount to
From the given Compound interest formula, we have
A(t) = P(1 + r/n)^nt
From the given information,
P = $300
r = 4% = 0.04
n = 12
t = 8
Putting the parameters into the formula
A = 300(1+ 0.04/12)¹²⁽⁸⁾
A = 300(1.3764)
A = $412.92
Hence, the $300 invested at the given rate will amount to $412.92. The correct option is C. $412.92
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