SOLUTION: Jack won 1,250,000 playing the lottery an put half of the money into a savings account that yields 3.7% annual interest compound daily.what will be his balance after 5 years?

Question 916250: Jack won 1,250,000 playing the lottery an put half of the money into a savings account that yields 3.7% annual interest compound daily.what will be his balance after 5 years?
Answer by ewatrrr(24785) (Show Source): You can put this solution on YOUR website!
In General
A = Accumulated Amount
P= principal =
r= annual rate = .
n= periods per year = 365
t= years =

RELATED QUESTIONS
A bank features a savings account that has an annual percentage rate of 4.3 % with... (answered by ikleyn)

A bank features a savings account that has an annual percentage rate of 3.6 % with... (answered by ikleyn)

A bank features a savings account that has an annual percentage rate of 3.5 % with... (answered by Boreal)

An algebra student has won $100.000 in a lottery and wishes to deposit it in savings... (answered by DrBeeee)

Please help me with this problem. Thank you for your help in advance! *Three friends... (answered by ikleyn)

An algebra student has won $500,000 in a lottery and wishes to deposit it in savings... (answered by colliefan)

A bank features a savings account that has an annual percentage rate of 2.7 % with... (answered by ikleyn)

Which of the following best describes the amount of money you'll have if you put $1000... (answered by ikleyn)

A bank features a savings account that has an annual percentage rate of 5.9 % with... (answered by Boreal)