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.
r = (1.5%/360) / 1oo% = 0.0000417 = DPR
expressed as a decimal.
n = 360 comp. per yr.
Pt = 5000(1.000041666)^360 = $5074.52.