SOLUTION: Find the amount of compound interest earned in an account that opens with $29,000, earns 5.2% interest compounded daily, and is held for 25 years. Assume 360 days in a year. (Roun

SOLUTION: Find the amount of compound interest earned in an account that opens with $29,000, earns 5.2% interest compounded daily, and is held for 25 years. Assume 360 days in a year. (Roun

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Question 586127: Find the amount of compound interest earned in an account that opens with $29,000, earns 5.2% interest compounded daily, and is held for 25 years. Assume 360 days in a year. (Round your answer to the nearest cent.)
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
A=29000(1+0.052/360)^360*25
A=29000(1.00014444)^9000
A=29000*3.6688
A=$106,395.35
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