4. find the interest earned. assume 3.5% interest compounded daily. $2,310 deposited april 12 and withdrawn july 5 $17.34 $18.68 $18.46 $17.12

Principal Amount = P = $2310
Interest rate = r = 3.5% = 0.035
Compounding periods in a year = n = 365
Time in days = Number of days from April 12 to July 5 = 84
Time in years= t = 84/365
Interest Earned = ?

First we find the compounded amount A.



Therefore, the amount accumulated over the given period will be $2328.68

Interest Earned = Amount compounded - Principal Amount
Interest Earned = 2328.68 - 2310 = $18.68

Therefore, the interest earned from April 12 to July 5 will be $18.68

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