The principal represents an amount of money deposited in a savings account subject
to compound interest at the given rate. Answer parts (a) and (b).
Principal
$4000
Rate
Compounded
2.3%
daily
Time
3.5 years
a. Find how much money there will be in the account after the given number of years. (Assume 365 days in a year.)
The amount of money in the account after 3.5 years is $ 4335.30
(Round to the nearest cent as needed.)
b. Find the interest earned.
The amount of interest earned is $____
