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melomori [17]
3 years ago
6

What is the interest earned on $20,000 for five years, at an interest rate of 3% compounded daily?

Mathematics
1 answer:
SSSSS [86.1K]3 years ago
6 0

Answer:

The final balance is $23,232.33.

The total compound interest is $3,232.33.

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Please give me the correct answer.Only answer if you're very good at math.Please don't put a link to a website.​
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Answer:

3, 50, 2

Step-by-step explanation:

By multiplying all terms by 5, we are trying to remove the fraction on the left hand side. On the right hand side of the equation, expand the bracket by multiplying 5 to each term in the bracket.

3(n +25)= 5(10) +5(\frac{2}{5} n)

3(n +25)= 50 +2n

To find the value of n, expand the bracket on the left hand side:

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3n +75= 50 +2n

Bring all n terms to one side, constants to the other:

3n -2n= 50 -75

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Step-by-step explanation:

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