Posted by Help on .
Find the amount of compound interest earned in an account that opens with $23,000, earns 3.3% interest compounded daily, and is held for 25 years. Assume 360 days in a year.
Wow, good thing we have calculators
I suggest you use the memory of your calculator to store the i value
i = .033/360 = .0000916667
n = 25*360 = 9000
amount = 23000(1.00009166667)^9000