John smith has found a short-term investment opportunity. he can invest $6,000 at 0.75 % interest for 15 days. how much interest will he earn on this investment if the interest is compounded daily? click the icon to view the table of compound interest of $100 compounded daily.
the interest is $ . (round to the nearest cent as needed.)

$45.16

Step-by-step explanation:

Given:

Principle amount = $6,000

Rate of interest, r = 0.75%

Duration = 15 days

Since, the interest is compounded daily

Future value =

or

Future value =

or

Future value = $6045.16

Therefore,

the interest earned = Future value - Principle amount

or

The interest earned = $6045.16 - $6000 = $45.16

10

step-by-step explanation: