SOLUTION: PLEASE can you answer this? if you start with a $375,000 and accumulate interest compounded daily at a 5% annual interest rate how much would be owed after 12 years including the p

SOLUTION: PLEASE can you answer this? if you start with a $375,000 and accumulate interest compounded daily at a 5% annual interest rate how much would be owed after 12 years including the p

Algebra.Com

Question 312893: PLEASE can you answer this? if you start with a $375,000 and accumulate interest compounded daily at a 5% annual interest rate how much would be owed after 12 years including the principal you started with? THANK YOU!!!
Answer by checkley77(12844) (Show Source): You can put this solution on YOUR website!
375,000(1+.05/365)^12*365
375,000(1+.000136986)^4,380
375,000(1.000136986)^4,380
375,000*1.822=$683,266.47 ans.

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