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Answer:
$0.03
Explanation:
The 1.4% interest rate given is an annual rate. So, the daily interest rate is 1/365 of that value. The first day's interest is 1/365 of 1.4% of $720:
1/365 × 0.014 × $720 ≈ $0.0276 ≈ $0.03 . . . . first day's interest
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