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posted by roger on Monday, December 5, 2011 at 3:09pm.
what would $5000 compounded daily at 1.5% be after 1 year
Pt = Po(1+r)^n r = (1.5%/360) / 1oo% = 0.0000417 = DPR expressed as a decimal. n = 360 comp. per yr. Pt = 5000(1.000041666)^360 = $5074.52.
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