An investment of $1,000 is earning interest at the rate of 3.8% compounded daily over 3 years. Approximately how much interest i

Question

valentina_108 [34]

3 years ago

6

An investment of $1,000 is earning interest at the rate of 3.8% compounded daily over 3 years. Approximately how much interest i

s earned on the investment?
(PLEASE SHOW WORK)
a.
$892.26
b.
$1120.75
c.
$120.75
d.
$38.73

Mathematics

1 answer:

Ivahew [28] · Answer 1 · 2022-06-30T16:03:57+03:00

Answer:

c. $120.75

Step-by-step explanation:

The correct answer between all the choices given is the third choice or letter C. I am hoping that this answer has satisfied your query and it will be able to help you in your endeavor, and if you would like, feel free to ask another question.