Fowler credit bank is offering 7.3 percent compounded daily on its savings accounts. you deposit $5,700 today. how much will you have in the account in 5 years? (

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asked Dec 4, 2018 198k views

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Yusuff Sodiq · Answer 1 · 2018-12-08T17:30:33+0000

P = $5,700, the principal
r = 7.3% = 0.073, rate
n = 365, compounding interval
t = 5, number of years

Calculate the value in 5 years.

A=P(1+ (r)/(n) )^(nt) =5700(1+2 * 10^(-4))^(1825)=8210.63

Answer: $8,210.63

Fowler credit bank is offering 7.3 percent compounded daily on its savings accounts. you deposit $5,700 today. how much will you have in the account in 5 years? (

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