Ask Question
8 March, 09:03

Find the interest earned.

Assume 3.5% interest compounded daily.

$42,000 deposited September 10 and withdrawn November 10

+4
Answers (1)
  1. 8 March, 09:25
    0
    September

    30-10=20 days

    October 31

    November 10

    Time=20+31+10=61 days

    A=42,000 * (1+0.035:365) ^ (61)

    A=42,246.38

    Interest earned

    I=42,246.38-42,000

    I=246.38
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Find the interest earned. Assume 3.5% interest compounded daily. $42,000 deposited September 10 and withdrawn November 10 ...” in 📙 Mathematics if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers