Posted by Dave on Sunday, January 27, 2013 at 7:56pm.
$24,000 is invested for 3 years with an APR of 2% and daily compounding. Balance in the account after 3. years is $ ___

MATH I NEED HELP  Damon, Sunday, January 27, 2013 at 8:02pm
constant compounding formula is:
A = P e^r t
here
r = .02
t = 3
A = 24,000 e^(.06)
= 24,000 * 1.06283
= $ 25,484.08

MATH I NEED HELP  Anonymous, Sunday, January 27, 2013 at 8:04pm
Compounding daily use 365 days
Are you using a business calculator?
If you are 2% goes into I
Your N is 3
24,000 is your Principal Value (PV)
0 PMT
P/Y = 1
C/Y = 365 * (I am not 100% on this)
Calculate FV
Answer This Question
Related Questions
 I NEED MATH HELP  $24,000 is invested for 3 years with an APR of 2% and daily ...
 math  Suppose you start saving today for a $30,000 down payment that you plan ...
 MATH PLESE  A $2,000 deposit at an APR of 5.4% with quarterly compounding for 8...
 math  Assume you want to accumulate $125,000 for a longrange goal in 40 years...
 Finite Math  You deposit $5,000 in an account earning 7.5% interest compounded ...
 math  You invest $1,000 at 4% compounded daily. Two years later you take the ...
 Math help  Complete the table to determine the balance A for $20,000 invested ...
 Math  Using continuous compounding. A 13,000 deposit in an account with APR of ...
 MATH HELP  A $2,000 deposit at an APR of 5.4% with quarterly compounding for 8 ...
 Is My Answer Correct Tutors?  You deposit $9,000 in an account earning 5.5% ...
More Related Questions