Calculate what $910 would grow to at 8% per year compounded daily for 10 years. (Round your answer to the nearest cent.)
Amount- ?
3 answers
910(1 + 0.08/365)^(365*10) = 2025.06
10 years is 3652 days (two leap years)
A = 910 [1 + (.08 / 365)]^3652
A = 910 [1 + (.08 / 365)]^3652
good call, R_scott. Of course, it might include 3 leap years, if the 1st or 2nd year was a leap year.
0 answers