cjeremiah968 cjeremiah968
  • 18-07-2017
  • Mathematics
contestada

Tom invests $200 into a bank account that yields 3.75 percent interest compounded daily. What will his exact account balance be after 2 years?

Respuesta :

Aliwohaish12
Aliwohaish12 Aliwohaish12
  • 18-07-2017
The formula is
A=p (1+r/k)^kt
A future value?
P present value 200
R interest rate 0.0375
K compounded daily 365
T time 2 years
A=200×(1+0.0375÷365)^(365×2)
A=215.58
Answer Link

Otras preguntas

p-2 times what = 4-p^2
which of earths layers is just below the crust
The parent function is f(x)=2^x−6+3 and the new function is g(x)=2^x − 3+2 . How does the graph change from f(x) to g(x) ? Select each correct answer.
Which of the following is NOT a recommended change in physical activity for aging individuals? A. taking a longer time to warm up and cool down B. being cautiou
What is the difference between a cladogram and a phylogenetic tree
How did European actions during world war 1 affect African societies ?
The oldest civilization in the Americas is believed to be the _________. A. Inca B. Aztec C. Olmec D. Maya
Find the equation (in terms of x) of the line through the points (-7,3),(-10,-3)
What are the two very important things that we get out of photosynthesis? Now think...why are those SO important?
Please I need help Fast!!!!!!!