Jed deposited $400 into a bank that offers 3.9% interest rate, compounded daily. In how many years will his balance be $800? A. 18.5 years B. 24.1 years C. 17.7 years D. 12.1 years
The correct answer is C. 17.7 years because if they deposited thatnumber by the total number of the amount wanted to be found, you would come up with 17.7.
