Maurice Luken deposited $3,021 in a savings account that paid 5.5 percent interest compounded daily. How much interest did he earn in 31 days?

9514 1404 393

  $14.14

Step-by-step explanation:

The amount of interest earned is ...

  I = P((1 +r/365)^n -1) . . . . interest on principal P at annual rate r compounded daily for n days

  I = 3021(1 +0.055/365)^31 -1) ≈ 14.14

$14.14 in interest is earned in 31 days.

a complex number is a number that can be expressed in the form a + bi, where a and b are real numbers, and i is a solution of the equation x2 = −1. because no real number satisfies this equation, i is called an imaginary number. has no real solution, since the square of a real number cannot be negative.

what are you trying to solve here

step-by-step explanation: