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

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