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An investment of $1,000 is earning interest at the rate of 3.8% compounded daily over 3 years. Approximately how much interest is earned on the investment? a. $892.26 b. $1120.75 c. $120.75 d. $38.73
An investment of $1,000 is earning interest at the rate of 3.8% compounded daily over 3 years. Approximately the interest earned on the investment is $120.75.
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Expert answered|medolar1983|Points 95|
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Asked 4/8/2014 8:15:05 PM
Updated 4/9/2014 7:27:40 AM
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medolar, can you explain how you got to your answer.
Added 4/9/2014 7:27:40 AM
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