Question

Glacier State Bank pays 6% interest, compounded daily. After finding the daily interest rate (to the nearest millionths place) for September 5 (92 days in quarter), calculate the interest earned on that date for an account with a balance of $4,000 (to the nearest whole cent).
A: 56 cents
B: 48 cents
C: 75 cents
D: 65 cents
E: None of these choices are correct.

Answer 1

Answer:

The answer is e

Step-by-step explanation: I calculated the percent and none of these match up 6% of 4000 is 240