Register

Joanna Michael deposits $3,500 in a savings account that earns 2 % compounded daily. If no deposits or withdrawals are made, how much will be in the account after 5 years?

Joanna Michael deposits $3,500 in a savings account that earns 2 % compounded daily. If no deposits or withdrawals are made, how much will be in the account after 5 years?
asked 73.0k views
2 votes
Joanna Michael deposits $3,500 in a savings account that earns 2 % compounded daily. If no deposits

or withdrawals are made, how much will be in the account after 5 years?

asked
User Gannonbarnett
by
7.3k points

1 Answer

2 votes

Answer:$3868.09

Explanation:

A(t)=p(1+r/n)^nt

A(5)=3500(1+.02/365)^365(5)

answered
User Anton Petrusha
by
8.0k points
← Prev Question Next Question →

No related questions found

Ask a Question
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.

Categories

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
Link Copied!