Answer:
The rate of interest for compounded daily is 2.1 6
Step-by-step explanation:
Given as :
The principal investment = $ 98,000
The Time period for investment = 7 years
Let The rate of interest compounded daily = R %
The Amount at the end up = $ 114,000
<u>From compounded method</u>
Amount = Principal × 
Or, $ 114,000 = $ 98,000 × 
Or,
= 
or, 1.16326 = 
or,
= 1 + 
1.00005919 - 1 = 
or, 0.00005919 = 
∴ R = 0.00005919 × 365000 = 2.16
Hence the rate of interest for compounded daily is 2.1 6 Answer
Answer:
B. logarithms of negative number don't exist
Answer: the first one
Step-by-step explanation: the number is 42 45 45 46 and 48 are all close together while the number 16 is off to the whole other side
It will take 54 days for Teri's account to earn an amount of $5000.
<h3>What is compound interest?</h3>
Compound interest, also known as interest on principal and interest, is the practice of adding interest to the principal amount of a loan or deposit.
It occurs when interest is reinvested, or added to the loaned capital rather than paid out, or when the borrower is required to pay it, so that interest is generated the next period on the principal amount plus any accumulated interest. In finance and economics, compound interest is common.
It is given by formula
A = 
where:
A is final amount
p is principal amount
r is rate of interest and
t, is time period
Given: A= $5000, p=$1500, r=2.25% = 0.0225
To find: time period to get compounded amount
5000=1500×
= 
0.0225t = ㏑ (
)
t = 53.5099 ≈ 54 days
Learn more about compound interest here:
brainly.com/question/3989769
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