Posted by tanya on .
can someone help me with this problem for this problem you will use 0.02/365 for your interest. You deposit $1000 at 2% for 20 years, compounded daily.

finance 
Reiny,
i = .02/365 = .....
n = 20(12) = 240
using
amount = principal(1 + i)^n
amount = 1000(1 + .02/365)^240
my keystrokes on my calculator are:
.02รท365
=
+ 1
=
y^{x}
240
=
x 1000
=
to get $1013.23