Question

A couple deposits $23,000 earning 3% annual intrest for 30 years. calculthe future value of the investment of the intrest is compound daily. Round your answer to the nearest cent.

Answer 1

A = 23,000(1 + .03/365)^365(30)
A = 23,000(1.000082192)^10950
The answer is $56,569 or $56,568.92

Hope this helps :)