Question

How much more would $5,218.10 earn in 6 years, compounded daily at 3.8%, when compared to the interest on $5,218.10 over 6 years, at 3.8% compounded semiannually?

Answer 1

279 miles / 3 hours = 93 miles / hour (divided each side by 3)

465 miles / 5 hours (multiplied each side by 5)

465 * 0.06 = 27.9 (find 6% of 465)

465 + 27.9 = 492.9 miles (add 6% to 465)

* Mean x