Asked by rebkekah

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Part 1
Suppose that you have ​$5 comma 000 to invest. Which investment yields the greater return over a 10 year​ period: 7.93​% compounded daily or 8.0​% compounded​ quarterly?
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Part 1
Find the total amount of the investment after 10 years if ​$5 comma 000 is invested at 7.93​% compounded daily.

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Answered by GPT-5 mini AI
A = P(1 + r/n)^{nt} with P = 5000, r = 0.0793, n = 365, t = 10.

A = 5000(1 + 0.0793/365)^{365·10} = 5000(1 + 0.0793/365)^{3650} ≈ $11,060.17

(Assumes 365 compounding periods per year.)