Use the Compound Interest Formula for Compounding More Than Once $\$ 12,000$

Multiple Choice

Use the compound interest formula for compounding more than once a year to determine the accumulated balance afterthe stated period.
- $\$ 12,000$ deposit at an APR of $3 \%$ with daily compounding for 10 years

A) $\$ 16,198.30$
B) $\$ 12,036.05$
C) $\$ 10,900.80$
D) $\$ 3600.00$