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04-04-2020
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Find the compounded amount. Assume 3.5% interest compounded daily.$2,750 deposited June 12 and withdrawn August 30

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04-04-2020

Answer:

June is 30 days

30-12=18 days

July is 31 days

August is 30 days

Time=18+31+30=79 days

A=2,750×(1+0.035÷365)^(79)

A=2,770.91

Interest earned

I=A-p

I=2770.91-2750

I==20.91

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