Some financial institutions pay daily interest, compounded by the 360/365 method, using the formula
?
?
(t is in years). Using this method, what will an initial investment of $1,800 be worth in 9 years, assuming a 9% annual interest rate? Round to the nearest cent.
?
?
A. $1,800.00
B. $17,747.59
C. $1,800.09
D. $4,091.59
E. $3,278.25
Answer: D
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A. 
B. 
C. 
D. 
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