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September 16, 2014

September 16, 2014

Posted by **emma** on Thursday, May 16, 2013 at 7:43pm.

An APR of 4% compounded daily.

You should invest?

- math -
**Henry**, Friday, May 17, 2013 at 7:05pmP = Po(1+r)^n = $85,000

r = (4%/365)/100% = 0.000109589 = Daily

% rate expressed as a decimal and based

on 365 days per year.

n = 365Comp/yr. * 15yrs. = 5475 Compounding periods.

P = Po(1.000109589)^5475 = 85000

Po = 85000/(1.000109589)^5475 = $46650.53

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