0.009 x 10 = 0.09
it may not be correct, but here you go.
A= 360
B= 2(12)²(7)/120= 2016/120=16.8
Answer:
$3,273.14
Step-by-step explanation:
-We first calculate the effective interest rate of 1.13% compounded daily:
![i_m=(1+i/m)^m-1\\\\=(1+0.0113/365)^{365}-1\\\\=0.011363909](https://tex.z-dn.net/?f=i_m%3D%281%2Bi%2Fm%29%5Em-1%5C%5C%5C%5C%3D%281%2B0.0113%2F365%29%5E%7B365%7D-1%5C%5C%5C%5C%3D0.011363909)
#Now, we calculate the compounded amount after 2 years using this rate:
![A=P(1+i)^n\\\\=3200(1.011363909)^2\\\\\\=3273.14](https://tex.z-dn.net/?f=A%3DP%281%2Bi%29%5En%5C%5C%5C%5C%3D3200%281.011363909%29%5E2%5C%5C%5C%5C%5C%5C%3D3273.14)
Hence, the compounded amount after 2 years is $3,273.14