Saturday

August 30, 2014

August 30, 2014

Posted by **Jessie** on Wednesday, July 15, 2009 at 5:27pm.

Year 6% compounded daily 7% simple

1 $1,061.83 $1,070.00

2 $1,127.49 $1,140.00

3

4

5

6

7

8

9

10

- math -
**DrBob222**, Wednesday, July 15, 2009 at 5:33pmYou didn't give the table. You can't copy and paste; you must type it in.

- math -
**Aleah**, Wednesday, July 15, 2009 at 6:48pmHere is the table:

Year 6% Compounded daily 7% simple

1 $1,061.83 $1,070.00

2 $1,127.49 $1,140.00

3

4

5

6

7

8

9

10

- math -
**DrBob222**, Wednesday, July 15, 2009 at 7:51pmFor 6% compounded daily, do this.

[(0.06/365)+ 1]^365 = 1.06183 and that x 1000 = $1061.83 for year 1.

For year 2, just take 1061.83*1.06183 = $1127.49.

For year 3, it will be 1127.49 x 1.06183 = ?? etc.

For 7% simple,

For year 1 it is $1,000 x 0.07 = 70.00 and 1,000 + 70.00 = $1070.00

For year 2 it is 1070.00 x 0.07 = 74.90 and 1,070.00 + 70.90 = 1,140.90. etc.

**Related Questions**

Algebra - Greta invests $10,000 in an investment that pays 3% interest, ...

math - Tamara invests $30,000 in an account earning 7% interest per year over ...

S.P - Tamara invests $30,000 in an account earning 7% interest per year over the...

maths - Tamara invests $30,000 in an account earning 7% interest per year over ...

MAAAATTTTHHHHHH - Franco invests some money at 6.9%/a compounded annually and ...

math - Andrew wants supplement his pension with investment interest if he ...

Business Math - Pete Air wants to buy a used Jeep in 5 years. He estimates the ...

Investment interest - Scenario: A client comes to you for investment advice on ...

Math - How much less interest is earned at 6% simple interest for 5 years on a $...

math - A professor wants to supplement her pension with investment interest. If ...