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22 December, 18:44

On July 2, Natalie deposited $4500 into a savings account that pays 5.5% interest compounded daily. On July 24, how much interest has she earned on principal

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  1. 22 December, 19:28
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    From July 2 to July 24=23 days

    A=p (1+i/360) ^ (360*t)

    A=4,500 * (1+0.055:360) ^ (360*23/360) = 4,515.84

    Interest earned 4515.84-4500=15.84
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