15) Solve. Round answer to nearest cent. (Use 365 days for compounding daily.)
Hint: Calculate the amount of money Rachel will have after 5 years. Then determine the amount of interest her
investment earned.
Rachel invested $3,755 that paid 82 % interest that was compounded daily.
4
How much interest did she make after 5 years?
Oa.) $5,915.55 - $3,755 = $2,160.55
Ob.) $5,815.55 - $3,755= $2,060.55
Oc.) $5,715.55 - $3,755 = $2,090.55