Question
$1450 was invested by Karla at 12% for 1 years compounded daily. How much did Karla have at the end of the investment?
Answers
Steve
1450(1+.12/365)^(365*1) = 1634.84
Some problems specify that we use 360 days per year. In that case, change the expression as needed.
Some problems specify that we use 360 days per year. In that case, change the expression as needed.