# math

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what would \$5000 compounded daily at 1.5% be after 1 year

• math -

Pt = Po(1+r)^n

r = (1.5%/360) / 1oo% = 0.0000417 = DPR
expressed as a decimal.

n = 360 comp. per yr.

Pt = 5000(1.000041666)^360 = \$5074.52.

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