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OpenStudy (anonymous):
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
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OpenStudy (cj49):
compound interest is A=P(1+r/100)^t Where A stands for Amount, P stands for Principal/Loan, R stands for Rate and T stands for time
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