Maxine deposited $1,000 into an account that pays 4.5% interest,compounded daily.At the end of six months,she has earned $12 in interest.

Question

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The interest earned from a $1,000 deposit at 4.5% interest compounded daily over six months would be more than $12. The calculation involves using the formula for compound interest, which would result in a higher amount due to daily compounding.

Maxine Deposited $1,000 into an Account That Pays 4