Advanced Placement (AP), 29.01.2020 13:54 mpjoserivera

The beginning balance of cooper's savings account for the month of september was $5700, and it remained this way for the first 11 days of the month. on september 12, cooper made a withdrawal of $900, so his balance changed, and it remained the same for a total of 9 days. on september 20, cooper made a deposit of $1100, so his balance changed again, and it remained the same for a total of 10 days to finish out the month. cooper's savings account has an apr of 3.65%, calculates interest daily, and pays interest at the end of the month. cooper wants to calculate the amount he earned in interest during the month of september. (5 points: part i – 1 point; part ii – 1 point; part iii – 1 point; part iv – 1 point; part v – 1 point)

part i: what interest rate does cooper's savings account pay per day?

daily interest rate: 0.01%

part ii: how much did cooper earn in interest during the first 11 days of september?

interest earned after 11 days: $6.27

part iii: how much did cooper earn in interest during the next 9 days of september?

part iv: how much did cooper earn in interest during the last 10 days of september?

part v: how much did cooper earn in interest during the month of september?

Answers: 3

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