Question

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?

Answer 1

Answer:$3868.09

Explanation:

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

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