document.write( "Question 1132260: Adair has deposited $361 in a savings account that earns interest at a rate of 1.3% compounded daily. What will the account balance be in 16 years? \n" ); document.write( "

Algebra.Com's Answer #749231 by ikleyn(52781) $\"\"$ $\"About$

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document.write( "Assuming 365 days in an year, the Future Value is\r\n" );
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document.write( "FV =  = 444.47 dollars.\r\n" );
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document.write( "You can use more complicated formula to account for 4 leap-years \r\n" );
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document.write( "FV = . = 444.47 dollars.\r\n" );
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\n" ); document.write( "\n" ); document.write( "Interesting, that with two decimal places, you have the same Future Value.\r
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