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April 24, 2014

April 24, 2014

Posted by **diamond** on Wednesday, August 1, 2012 at 9:38pm.

- Finance -
**Henry**, Thursday, August 2, 2012 at 7:39pmP = Po(1+r)^n.

P = Principal after 10 years.

Po = $28,000 = Inital deposit.

r = (2.4%)/360) / 100% = 0.00006667. =

Daily % rate expressed as a decimal.

n = 360Comp/yr * 10yrs=3600 Compounding periods.

Plug the above values into the given Eq

and get:

P = $35,594.69.

I = P-Po =

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