3 years ago

1 pts

Mathematics

1 answer:

Svetradugi [14.3K]3 years ago

3 0

Answer:

7/12

Step-by-step explanation:

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3 years ago

Neal opened a savings account 11 years ago with a deposit of $2,335.69. The account has an interest rate of 4.3% compounded dail

Vinvika [58]

Answer: $1,412.52

Step-by-step explanation:

Formula to calculate the accumulated amount if P principal invested for t years at a rate of interest r that compounded daily is given by:-

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Given: P= $2,335.69

r= 4.3%= 0.043

t= 11 years

Then,

$A=2335.69(1+\dfrac{0.043}{365})^{365\times11}\\\\=2335.69(1+0.000117808219178)^{4015}\\\\=2335.69(1.000117808219178)^{4015}\\\\= 2335.69(1.6047566747)\\\\=3748.09044309\approx3748.21\\\\\Rightarrow\ A=\$3748.21$