SOLUTION: If I save 10,000 for 5 years at 9% compounding daily what would be balance in 5 years

Question 1013477: If I save 10,000 for 5 years at 9% compounding daily what would be balance in 5 years
Found 2 solutions by Alan3354, fractalier:
Answer by Alan3354(69443) (Show Source): You can put this solution on YOUR website!
If I save 10,000 for 5 years at 9% compounding daily what would be balance in 5 years
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Using 365 days per year:
FV = 10000*(1 + 0.09/365)^(5*365)
=~ $15682.25
Answer by fractalier(6550) (Show Source): You can put this solution on YOUR website!
Compound interest n times a year is found by

Plugging in we get

so that
A(5) = $15682.25

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