cjeremiah968 cjeremiah968

18-07-2017
Mathematics

contestada

Tom invests $200 into a bank account that yields 3.75 percent interest compounded daily. What will his exact account balance be after 2 years?

Respuesta :

Aliwohaish12 Aliwohaish12

18-07-2017

The formula is
A=p (1+r/k)^kt
A future value?
P present value 200
R interest rate 0.0375
K compounded daily 365
T time 2 years
A=200×(1+0.0375÷365)^(365×2)
A=215.58

Answer Link

Otras preguntas

solve pls brainliest

How to measure the amount of rainfall in a place with rain guage

A full glass of water can hold 1/6 of a bottle. How many glasses of water can be filled with 3 1/2 bottles of water?

Which equation has a missing number that is different from the others?

K12 - Who was a key leader of the Second Great Awakening and founded the Church of Jesus Christ of Latter Say Saints? O Charles Finney O Horace Mann O Joseph Sm

What does it mean for a polynomial to be factored completely.

please help me solve the problem I will give you five stars

61. Use the following facts to construct a coherent paragraph with a topic sentence and appropriate transitional expressions in the supporting sentences.

What is 35% of 305.3 ?

please help me with this math please please asap please