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MATH I NEED 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 $ ___

  • MATH I NEED HELP -

    constant compounding formula is:
    A = P e^r t
    here
    r = .02
    t = 3
    A = 24,000 e^(.06)
    = 24,000 * 1.06283
    = $ 25,484.08

  • MATH I NEED HELP -

    Compounding daily use 365 days

    Are you using a business calculator?
    If you are 2% goes into I
    Your N is 3
    24,000 is your Principal Value (PV)
    0 PMT

    P/Y = 1
    C/Y = 365 * (I am not 100% on this)

    Calculate FV

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