Question

Dolores invests $8700 in a new savings account which earns 4.1 % annual interest, compounded daily. What will be the value of her investment after 8 years? Round

to the nearest cent.

Answer 1

$2853.60

Explanation:

4.1 percent of 8700 is 356.7 multiply it by the 8 years and you get 2853.60