BUSINESS ADMINISTRATION
BUSINESS MATHEMATICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Florence Tyler invests $6, 500 in a 4-year certificate of deposit that earns interest at an annual rate of 5 percent compounded daily. The amount per $1.00 is 1.221386. What is the interest earned?
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$23, 906.00
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$1, 439.01
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$165.28
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$1, 896.50
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Explanation:
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