Answered: Karine invests $6,100 in an account…

Karine invests $6,100 in an account with an annual interest rate of 4.5% compounded daily for 2 years. What is the return on investment for Karine's account?

Algebra and Trigonometry (6th Edition)

6th Edition

ISBN:9780134463216

Author:Robert F. Blitzer

Publisher:Robert F. Blitzer

ChapterP: Prerequisites: Fundamental Concepts Of Algebra

Section: Chapter Questions

Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...

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Question

Karine invests $6,100 in an account with an annual interest rate of 4.5% compounded daily for 2 years.
What is the return on investment for Karine's account?
9.4%
4.6%
2.3%
8.6%

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