if a person deposits $304 per year for 13 years and makes $4275, how much interest did he make per year?
To calculate the interest earned per year, we need to subtract the total amount deposited from the total amount made over the given time period.
Total amount deposited = $304 x 13 years = $3952
Interest earned = Total amount made - Total amount deposited
= $4275 - $3952
= $323
Now, to calculate the interest earned per year, we divide the interest earned by the number of years:
Interest earned per year = Interest earned / Number of years
= $323 / 13 years
≈ $24.85 (rounded to two decimal places)
Therefore, the person earned an average interest of approximately $24.85 per year.