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Luke invested $69,000 in an account paying an interest rate of 5.1% compounded daily. Assuming no deposits or withdrawals are made, how much money, to the nearest dollar, would be in the account after
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Luke invested $69,000 in an account paying an interest rate of 5.1% compounded daily. Assuming no deposits or withdrawals are made, how much money, to the nearest dollar, would be in the account after 19 years?

User Inanc Gumus
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1 Answer

5 votes

Answer:

A = $ 181,824 rounded

Explanation:

A = $ 181,823.93

A = P + I where

P (principal) = $ 69,000.00

I (interest) = $ 112,823.93

Luke invested $69,000 in an account paying an interest rate of 5.1% compounded daily-example-1
User Davsket
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