An investment of $1,000 is earning interest at the rate of 3.8% compounded daily over 3 years. Approximately how much interest is earned on the investment?
a. $892.26
b. $1120.75
c. $120.75
d. $38.73
Approximately $120.75 interest
is earned on the investment.
The correct answer between all
the choices given is the third choice or letter C. I am hoping that this answer
has satisfied your query and it will be able to help you in your endeavor, and
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