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What is the interest earned on $20,000 for five years, at an interest rate of 3% compounded daily?

What is the interest earned on $20,000 for five years, at an interest rate of 3% compounded daily?
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What is the interest earned on $20,000 for five years, at an interest rate of 3% compounded daily?

User Skeolan
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1 Answer

3 votes

Answer:

The final balance is $23,232.33.

The total compound interest is $3,232.33.

User Teknix
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