How much more would $5,218.10 earn in 6 years, compounded daily at 3.8%, when compared to the interest on $5,218.10 over 6 years
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Hi Student!
This question is fairly simple because it gives us an equation and they also give us a value for the variable that is within the equation and they tell us evaluate the expression. So let's plug in the values and solve.
<u>Plug in the values</u>
<u>Factor out the exponent</u>
<u>Combine</u>
Therefore, the final answer that we would get when substituting m with 9 in the given equation is that we get 86.