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An investment of $1,000 is earning interest at the rate of 3.8% compounded daily over 3 years. Approximately how much interest is earned on the investment?

A$892.26
B$1120.75
C$120.75
D$38.73

Verified Answer :

Approximately $120.75 interest
is earned on the investment.

 

The correct answer between all
the choices given is the third choice or letter C. I am hoping that this answer
has satisfied your query and it will be able to help you in your endeavor, and
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Answer:

C

Explanation:

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