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Carter invested $3,900 in an account paying an interest rate of 3. 9% compounded daily. Assuming no deposits or withdrawals are made, how much money, to the nearest hundred dollars, would be in the account
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21 votes
21 votes
Carter invested $3,900 in an account paying an interest rate of 3. 9% compounded daily. Assuming no deposits or withdrawals are made, how much money, to the nearest hundred dollars, would be in the account after 5 years?

User Cedervall
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2 Answers

17 votes
17 votes

Answer: 4700

Step-by-step explanation:

User GoraKhargosh
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2.9k points
10 votes
10 votes

$822.18 is how much earned interest so add $3,900 and you get $4,722.18

User Eben
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2.7k points
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