Solve the problem.Maryn deposited $5000 in a 3-year certificate of deposit account paying 5% compounded daily. She withdrew the money 12 months later. The passbook rate at her bank is 3
% compounded daily. Remembering the rules for finding the early withdrawal penalty, find the interest earned on the account.
A. $5131.14
B. $0
C. $175.61
D. $131.14
Answer: D
Mathematics
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