Question
You invest an initial $4,500 in an account that has an annual interest rate of 4.5%, compounded daily. How much money will you have in the account after 10 years? Round your answer to the nearest whole number.
Answers
Reiny
amount = 4500(1 + .045/365)^3650
= 7057.21
or $ 7057 to the nearest dollar
= 7057.21
or $ 7057 to the nearest dollar