math

Good day to you.
How can I approach this math problem.

"To save for a child's education, the Petersens deposited $2500 into an account that pays 6% annual interest compounded daily. Find the amount of interest earned on this account over a 20-year period".

I try solving with the formula:
A=(1+ i/m)^mt. m = 365; but cannot arrive at the correct answer.
Thanks.

  1. 0
  2. 0
  3. 10
asked by Cliff

Respond to this Question

First Name

Your Response

Similar Questions

  1. psychology

    Some children require a "carrot on a stick" to get them to clean their room, behave well in public places, or make good grades. This suggests that?(a.) the incentive approach pulls the child toward the goal. (B.)the

    asked by lachelle on September 27, 2011
  2. Psychology

    Some children require a "carrot on a stick" to get them to clean their room, behave well in public places, or make good grades. This suggests that: A. the incentive approach pulls the child toward the goal. B. the drive-reduction

    asked by Angela on June 19, 2013
  3. psychology

    Some children require a "carrot on a stick" to get them to clean their room, behave well in public places, or make good grades. This suggests that?(a.) the incentive approach pulls the child toward the goal. (B.)the

    asked by lachelle on September 27, 2011
  4. psychology

    . Some children require a "carrot on a stick" to get them to clean their room, behave well in public places, or make good grades. This suggests that: (Points: 5) the incentive approach pulls the child toward the goal. the

    asked by Anonymous on September 15, 2011
  5. Psychology Please Help!!!!

    Some children require a "carrot on a stick" to get them to clean their room, behave well in public places, or make good grades. This suggests that: a. the incentive approach pulls the child toward the goal. b. the drive-reduction

    asked by Anonymous on November 24, 2011
  6. Math: is it? is it not?

    Is this math problem hard? - There are 12 brothers living in a mansion. Six brothers are sitting in a rectangular kind of table. Six other brothers stood around them. They all have ten huge backpacks. Each backpack has 8 large

    asked by Losa on September 24, 2013
  7. Science

    You are a Chemical engineer, trying to synthesize N2H4(l). Your boss suggests that you try to synthesis it from the elements, nitrogen and hydrogen, at 25 celsius and 1.0 atm (since this would be a cheap way of doing it). Write a

    asked by Sue on July 26, 2012
  8. What Makes A Good Math Teacher?

    I think a good math teacher is someone who can explain math topics at the level of students. A good math teacher is someone who does not try to impress students with his or her math skills (college math professors are famous for

    asked by Guido on February 22, 2008
  9. University studies

    According to the Center for Mathematics Excellence, which of the following is a math myth? A. Knowing the rules and how to use them is the most important part of math. B. Even people who are highly skilled in mathematics and

    asked by lil Bee on November 3, 2011
  10. Moral Help

    This is pretty irrelevant to subjects, but I've had a problem (no, not a math problem) that I could use some good advice on. Today I received a detention for messing around with a friend during a computer apps class. It's easy as

    asked by John on September 18, 2007

More Similar Questions