Monday

July 28, 2014

July 28, 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.

**Related Questions**

math - The Investment Problem. Suppose that Rod invests $1,000 at 6% compounded ...

arithmetic - An investment of $2,000 is earning interest at the rate of 6.2% ...

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

math/ compounded - Scenario: A client comes to you for investment advice on his...

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

math - Marla earned $400 interest over 2 years on a $4,000 investment. Jovita ...

math - A client comes to you for investment advice on his $500,000 winnings ...

math - A client comes to you for investment advice on his $500,000 winnings ...

Math - Mr. Nielson wants to borrow $1,000 for 2 years. He is given the choice of...

math - How much interest is earned from a $3,000 investment at an annual rate of...