SOLUTION: Jill invests $6000 in a savings account with a 1% interest rate compounded daily. How much money will Jill have after 15 years?
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Question 1072339: Jill invests $6000 in a savings account with a 1% interest rate compounded daily. How much money will Jill have after 15 years?
Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
P=Po(1+(.01/365))^365*15; the exponent is 5475
=6000(1.162), but don't round until the end, and the product is $6970.99
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