well, we do know that
(1+.035)^10 = 1.4106
(1+.035/4)^(4*10) = 1.4169
...
e^.035 = 1.4191
Use the digits of your birthday as the amount of your initial investment (i.e., 6/25 is $625), calculate the value of this investment after 10 years at 3.5% APR for interest compounded yearly, quarterly, monthly, and daily. What do you notice?
1 answer