math

a money market fund pays 14% annual interest compunded daily. What is the value of $10,000 invested in this fund after 15 yrs?

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  1. R=1+14% p.a.
    =1+14%/365 per day
    =1.000383562 per day.
    Principal
    = $10,000
    Amount accumulated after 15 years
    =$10,000*1.000383562^(15*365)
    =$81628.83

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