In the statement
1 answer:
You might be interested in
Answer: $ 82,531.59.
Step-by-step explanation:
Formula to calculate the accumulated amount compounded daily:
,where P=principal amount, t=time ( in days ), r =rate of interest.
Given: P= $51,123.21
r =
t= 20 years 2 months
[1 year = 365 days, 1 year = 12 months]
Substitute all values in the formula, we get
hence, future value = $ 82,531.59.
