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An investment of $1,000 is earning interest at the rate of 3.8% compounded daily over 3 years. Approximately how much interest is earned on the investment?

a. $892.26
b. $1120.75
c. $120.75
d. $38.73

User Henryaz
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2 Answers

3 votes

Answer:

C

Step-by-step explanation:

User Deqyra
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Approximately $120.75 interest is earned on the investment. The correct answer between all the choices given is the third choice or letter C. I am hoping that this answer has satisfied your query and it will be able to help you in your endeavor, and if you would like, feel free to ask another question.
User Czarina
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