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On October 1, Manda Loya deposited $1,120 in a savings account that pays 5.5% interest ompounded daily. On October 22, how much interest will have
On October 1, Manda Loya deposited $1,120 in a savings account that pays 5.5% interest ompounded daily. On October 22, how much interest will have been earned on the principal in her account?
Use the compound interest tables below to solve the problems. Round answers to the nearest cent Amount of $1.00 Total Interest Rate per Period Interest Periods 1.250% 1.375% 1.500% 1 1.01250 1.01375 1.01500 Amount of $1.00 at 5% Compounded Daily, 365 Day Your Day Amount Day Amount Day Amount 21 1.00316 30 1.00452 80 1.01212 22 1,00331 40 1.00604 90 1.01364 23 1.00347 50 1.00755 100 1.01517 24 1.00362 60 1.00907 120 1.01823 2 1.02516 1.02769 1.03023 A | A | | 3 1.03797 1.04182 1.04568 4 1.05095 1.05614 1.06138 25 1.00377 70 1.01059 140 1.02131 5 1.06408 1.07067 1.07728 6 1.07738 1.08539 1.09344 7 1.09085 1.10031 1.10984 B 1.10449 1.11544 1.12649 You have a savings account at federal savings. The account earns 5.5% interest compounded daily. On March 6, you had $1,645.72 in your account. How much would be in the account on July 4?
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