tak murakami has a savings account at city saving bank. the account earns 5.5% interest compounded daily. on febuary 2,the ammou
nt in his account $580. how much will be in the acoount in 40 days
1 answer:
Answer:
Step-by-step explanation:
In the original question as shown in the attached picture, there is a compound interest table.
According to the table, Amount of $1.00 at 5.5% Compounded Daily after 40 days is $1.00604.
Using the formula: Amount = Original Principal x Amount of $1.00,
the amount in account after 40 days = $580 x 1.00604
= $583.5032
= $583.50 rounded to the nearest cent
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