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math

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Kelly opened a savings account with $500 she received at 8th grade graduation four years ago. The account pays 2.5 percent compounded daily. How much should be in the account now?

  • math - ,

    I will assume 365 days

    i = .025/365
    so n = 4(365) = 1460

    amount = 500(1 + .025/364)^1460

    I got 552.58

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