Register
Find the interest earned. Assume 3.5% interest compounded daily. $42,000 deposited September 10 and withdrawn November 10
156k views
3 votes
Find the interest earned.

Assume 3.5% interest compounded daily.

$42,000 deposited September 10 and withdrawn November 10

User Mounir
by
7.2k points

1 Answer

1 vote
September
30-10=20 days
October 31
November 10
Time=20+31+10=61 days
A=42,000×(1+0.035÷365)^(61)
A=42,246.38
Interest earned
I=42,246.38−42,000
I=246.38
User Hainabaraka
by
6.8k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

7.3m questions

9.7m answers

Other Questions

How do you estimate of 4 5/8 X 1/3
Write words to match the expression. 24- ( 6+3)
Please solve the following equation. x-6x=56
whats the most accurate estimation of 65+77
Find the additive inverse of 18/23
Link Copied!