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Liam wants to deposit a $2,450 bonus cheque into his high-rate savings account that pays interest of 3.15%. Interest is calculated on the daily closing
Liam wants to deposit a $2,450 bonus cheque into his high-rate savings account that pays interest of 3.15%. Interest is calculated on the daily closing balance and paid at the close of business on the last day of the month. If Liams current balance is $9,055 and he does not make any withdrawals, what interest will he earn on his savings account for the month of March by depositing the cheque on March 11? (Use 365 days a year. Do not round intermediate calculations and round your final answer to 2 decimal places.)
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