8
QuizMultiple Choice

Compound Interest

Question 8 • 26-27 Ignite Technical Math-Financial Math - MA2007

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 Please select the best answer from the choices provided

Answer
A
A
B
B
C
C
D
D
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An investment of $1,000 is earning interest at…