I NEED MATH HELP

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$24,000 is invested for 3 years with an APR of 2% and daily compounding. Balance in the account after 3. years is $ ___

  • I NEED MATH HELP -

    P = Po(1+r)^n.

    r = (2%/365)/100% = 5.48*10^-5 = Daily %
    rate expressed as a decimal.

    n = 365Comp/yr * 3yrs = 1095 Compounding
    periods.

    Plug the above values into the given Eq
    and solve for P.

    Answer: P = $25,484.19

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