Mathematics, 04.10.2021 08:00 docholiday
A bank offers an investment account with an annual interest rate of 1.12% compounded daily, Rachel invests $3700 into the account for 2 years.
Answer the questions below. Do not round any intermediate computations, and round your final answers to the nearest cent. If necessary, refer to the
list of financial formulas. Assume there are 365 days in each year.
Ð¥
3
?
(a) Assuming no withdrawals are made, how much money is in Rachel's
account after 2 years?
50
(b) How much interest is earned on Rachel's investment after 2 years?
si
Answers: 1
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A bank offers an investment account with an annual interest rate of 1.12% compounded daily, Rachel i...
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