Elliott wants to have money set aside for a rainy day, so he invests $2,400 into a savings account that pays 1.3% annual interest, compounded monthly. after one year, how much interest will elliott have earned? round each month's interest to the nearest cent. (see wb ch. 1 example 1.5)

$31.39

Explanation:

First, calculate the value which he will be getting after one year, on investment made by him today.The investment made today will give him 1.3% annual interest, compounded monthly.

Future value=Amount invested today(1+i/n)^n

Amount invested today=$2,400

i=interest per annum=1.3%

n=number of periods involved=12

Future value=2,400(1+1.3%/12)^12=$2431.39

Interest earned=$2431.39-$2,400=$31.39

employees use applications that are uniformed so that they are able to look over them more quickly because the do not want to spend a long time reading through the applications so they get all the infomation that the are looking for on the application they made so the do not have to read about unnessacary infomaton. so to make it simple it them find the person that they want to hirer faster with out wasting time.

i hope this i spelt things wrong i believe but this is why

mark me brainliest.

this website has me so much feel free to keep asking questions

answer; foreign exchange transaction;