Asia Desai deposited $6,000 in a savings account that pays 5.5 percent interest compounded

daily. How much interest did she earn in 21 day

To calculate the amount of interest earned, we need to use the formula for compound interest:

A = P(1 + r/n)^(nt)

Where:
A = the final amount (including interest)
P = the principal amount (initial deposit)
r = annual interest rate (in decimal form)
n = number of times interest is compounded per year
t = time in years

In this case, Asia deposited $6,000, the interest rate is 5.5% (or 0.055 in decimal form), interest is compounded daily (n = 365), and the time period is 21 days (t = 21/365).

Using the formula, we can calculate the final amount (including interest):

A = 6000(1 + 0.055/365)^(365*(21/365))

Simplifying the equation:

A = 6000(1 + 0.0001507)^(21)

Calculating the exponential value:

A = 6000(1.0001507)^21

A = 6000(1.0031646)

A ≈ 6018.99

To find the interest earned, we subtract the principal amount from the final amount:

Interest earned = A - P = 6018.99 - 6000 = 18.99

Therefore, Asia earned approximately $18.99 in interest over 21 days.

i = .055/365 = .000150684

amount after 21 days
= 6000(1.000150684)^21= 6019.01

So what interest did she earn ?