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 ->  Finance -> 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      Log On


   

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) About Me  (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.