Question

What is the future value of 300000 with an interest rate of 17% per annum for 30 days?

Answer 1

$\bf \qquad \textit{Simple Interest Earned Amount}\\\\ A=P(1+rt)\qquad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\to& \ 300000\\ r=rate\to 17\%\to \frac{17}{100}\to &0.17\\ t=years\to \frac{30}{365}\to &\frac{6}{73} \end{cases} \\\\\\ A=300000\left(1+0.17\cdot \frac{6}{73}\right)$