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finance

posted by 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 - ,

    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
    =
    yx
    240
    =
    x 1000
    =

    to get $1013.23

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