Register
A couple deposits $23,000 earning 3% annual intrest for 30 years. calculthe future value of the investment of the intrest is compound daily. Round your answer to the nearest cent.
12.7k views
4 votes
A couple deposits $23,000 earning 3% annual intrest for 30 years. calculthe future value of the investment of the intrest is compound daily. Round your answer to the nearest cent.

User Mark Fenech
by
7.4k points

1 Answer

3 votes
A = 23,000(1 + .03/365)^365(30)
A = 23,000(1.000082192)^10950
The answer is $56,569 or $56,568.92

Hope this helps :)
User Marr
by
8.0k points
← Prev Question Next Question →

Related questions

Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

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
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
i have a field 60m long and 110 wide going to be paved i ordered 660000000cm cubed of cement  how thick must the cement be to cover field
Link Copied!