3 years ago

Mario invested $5100 at 13%

Mathematics

1 answer:

cestrela7 [59]3 years ago

6 0

Answer:

Amount = $6614 and 19 cent

Step-by-step explanation:

Formula for compound interest is

A= p(1+r/n)^(nt)

Compounded daily

So n= 365*2= 730

T= 2

r= 0.13

P= 5100

A= p(1+r/n)^(nt)

A= 5100(1+0.13/730)^(730*2)

A= 5100(1+1.78082*10^-4)^(1460)

A= 5100(1.000178082)^1460

A= 5100(1.2969)

A= 6614.19

Amount = $6614 and 19 cent

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