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April 16, 2014

April 16, 2014

Posted by **Algebra** on Wednesday, August 29, 2012 at 1:03am.

- Finance -
**Henry**, Friday, August 31, 2012 at 7:21pmP = Po(1+r)^n.

Po = $24,000.

r = (7.8%/360) / 100% = 0.00021667 = Daily % rate expressed as a decimal.

n = 360Comp./yr * 20 yrs = 7200 Compounding periods.

Plug the above values into the given Eg.

P = 114,192.41

Int. = P - Po

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