Register
Find the compounded amount. Assume 3.5% interest compounded daily.$2,750 deposited June 12 and withdrawn August 30
70.0k views
0 votes
Find the compounded amount. Assume 3.5% interest compounded daily.$2,750 deposited June 12 and withdrawn August 30

User Alexander Artemenko
by
4.3k points

1 Answer

3 votes

Answer:

June is 30 days

30-12=18 days

July is 31 days

August is 30 days

Time=18+31+30=79 days

A=2,750×(1+0.035÷365)^(79)

A=2,770.91

Interest earned

I=A-p

I=2770.91-2750

I==20.91

User QAH
by
4.3k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

4.8m questions

6.2m answers

Other Questions

Explain the similarities and differences between how both producers and consumer use money
edna kropp's gross income for a year included salary, $12,400; commission, $27,750; intrerest, $440. Her adjustment to income were payment to a retirement plan, $2,000, and a penalty for withdrawing savings
Your assessment tool contains rich data about child progress in language and literacy but no details to explain the differences between children. You decide to: A. Replace the tool with another B. Analyze
You want to endow a scholarship that will pay $ 7 comma 000$7,000 per year​ forever, starting one year from now. if the​ school's endowment discount rate is 6 %6%​, what amount must you donate to endow
A warranty is a _____. written guarantee that states an item will be fixed or replaced under certain conditions guarantee by word of mouth that an item will be replaced if it breaks restriction to when
Link Copied!