jocekinn jocekinn

10-04-2017
Mathematics

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Find the interest earned.
Assume 3.5% interest compounded daily.

$42,000 deposited September 10 and withdrawn November 10

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Aliwohaish12 Aliwohaish12

10-04-2017

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

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