Question

On April 20, Edu deposited $9,000 in an interest-bearing checking account that earns 3.5% interest compounded daily. If Edu withdraws the money on June 20, find the total amount withdrawn.

A) $9,044.12
B) $9,051.93
C) $9,052.80
D $52.80

Answer 1

Answer:

Simple Interest Formula

The Simple Interest Formula is given by

Simple Interest = Principal × Interest Rate × Time

I = Prt where

The Principal (P) is the amount of money deposited or borrowed.

The Interest Rate (r) is a percent of the principal earned or paid.

The Time (t) is the length of time the money is deposited or borrowed...

Step-by-step explanation:

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