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Henry00
Answers (1)
Pt = Po(1+r)^n. a. r = (8.01%/12) / 100% = 0.006675 = Monthly % rate expressed as a decimal. n = 12 comp./yr * 15 yrs. = 180 comp. periods. Pt = 2631(1.006675)^180 = $8713.48. b. Pt = Po(1+r)^n. r = (8.01%/360) / 100% = 0.0002225 = daily % rate expresed as
