Final answer:
Betty will earn approximately $163.60 in interest after 959 days of making daily deposits of $5.62 into a savings account with an annual interest rate of 3%.
Step-by-step explanation:
To calculate the interest earned, we need to multiply the amount deposited daily by the interest rate and the number of days the money is invested for. In this case, Betty deposits $5.62 daily into her savings account for 959 days. The annual interest rate is 3%, which can be expressed as 0.03.
To calculate the interest earned, we use the formula:
Interest = Principal x Rate x Time
Plugging in the values, we get:
Interest = $5.62 x 0.03 x 959
Simplifying the calculation, we find that Betty will earn approximately $163.60 in interest after 959 days of making daily deposits of $5.62.