3 years ago

Find the compound amount on an investment of $8,500 at 7.5% compounded daily for 3.5 years.

Mathematics

1 answer:

Leto [7]3 years ago

7 0

Answer:

Accrued Amount: 10955.51, Total Interest: 2455.51

Step-by-step explanation:

A = P(1+r/n)nt

CI = A-P

Where,

CI = Compounded interest

A = Final amount

P = Principal

t = Time period in years

n = Number of compounding periods per year

r = Interest rate

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