Find the amount of compound interest earned in an account that opens with $23,000, earns 3.3% interest compounded daily, and is held for 25 years. Assume 360 days in a year.

Answer 1

Wow, good thing we have calculators

I suggest you use the memory of your calculator to store the i value

i = .033/360 = .0000916667
n = 25*360 = 9000

amount = 23000(1.00009166667)^9000
= 52480.10