Question
You in vest #980.10 in a compound interest account that earns 2.5% per annum Compounded daily for 10 months. What amount do you have after 10 months??
A=P (1+) nxt
A=P (1+) nxt
Answers
GPT 3.5
A = 980.10 (1 + 0.025/365)^(365*10/12)
A = 980.10 (1 + 0.0000684932)^3.5
A = 980.10 (1.00023868)
A = 980.35
After 10 months, you would have $980.35 in your account.
A = 980.10 (1 + 0.0000684932)^3.5
A = 980.10 (1.00023868)
A = 980.35
After 10 months, you would have $980.35 in your account.