math

daniel has a money market account with $1200.the bank offered him a special rate of 5.25%per month.how much money will he have after the first month? $1263 right (thank you so much)

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  1. Right!

    Wow! That's a great rate of interest. Usually interest is figured annually, not monthly!

    And you're very welcome.

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    👩‍🏫
    Ms. Sue
  2. I bet it is a typo and they intended "compounded monthly" at (5.25/12) percent per month.

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  3. 1263$

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