Question

Janine opens a savings account with a deposit of $720. the account pays 3.4% interest, compounded daily. what is the first day's interest? round to the nearest cent.

Answer 1

Question

Janine opens a savings account with a deposit of $720. The account pays 3.4% interest, compounded daily. What is the first day’s interest? Round to the nearest cent.

Hey, Happy new year.

Interest =$0.03

Explanation:

($720*0.014) / 365

Hope I helped </3 ,

Ciao Mate.

From - xlostgamerx