Asked by Brianni
Dolores Invest $8500 in a new savings account which owns 3.1% annual interest, compounded daily. What will be the value of her investment after three years?
Answers
Answered by
Reiny
i = .031/365 = ....
n = 365*3 = ...
sub into :
amount = 8500(1+i)^n
n = 365*3 = ...
sub into :
amount = 8500(1+i)^n
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