Carter invested $3,900 in an account paying an interest rate of 3.9% compounded daily. Assuming no deposits or withdrawals are made, how much money, to the
nearest hundred dollars, would be in the account after 5 years?

$4700

Step-by-step explanation:

.25

step-by-step explanation:

the answer is:

the correct option:

b.

to solve the problem, we need to remember how to operate to simplify exponential expressions using the logarithms.

we are given the equation:

then, using placing logarith with base 7 on both sides of the equation, we have:

so, rounding the obtained result to two decimal places (nearest hundreth), we have:

hence, we have that the correct option:

b.

have a nice day!