Respuesta :
The total interest that Copper will receive at the end of the month is 12
What is monthly compounding?
Monthly compounding means that the interest is computed every month rather than at the end of each year, in essence, the rate of interest applicable to a one-month deposit is 0.6% rather than 7.2% which is an annual interest rate
The amount deposited becomes 2000, the additional of the beginning balance and additional deposit of 500
Since 0.6% is earned on deposits, the total interest that Copper will receive at the end of the month is total deposits multiplied by monthly interest rate of 0.6%
total interest=2,000*0.6%
total interest=12.00
Find out more about monthly compounding on:https://brainly.com/question/18651343
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