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September 1, 2014

September 1, 2014

Posted by **Anonymous** on Thursday, October 15, 2009 at 6:32pm.

- Math -
**Reiny**, Thursday, October 15, 2009 at 7:10pmInterest on simple intereat part

= PRT

= 10000(.06)(5) = $3000

at 6% per annum compounded daily

amount = 10000(1 + .06/365)1825 = 13498.25

or $3498.25 in interest

so for the simple interest there would $498.25 less than the rate compounded daily.

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