document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1133095>Question 1133095</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Ted won $1000 000  in a lottery. He invested it at 6.25% compounded daily. How much does the money earn in a 30 day month? </SPAN>\n" );
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document.write( "When the interest rate is quoted as \"6.25% compounded daily, it means that 6.25% is the ANNUAL percentage rate.  The daily percentage rate is 1/365-th of 6.25%.<br><BR>\n" );
document.write( "So the value of this investment after 30 days is<br><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=1000000%281%2B.0625%2F365%29%5E30+=+1005149.76 ALIGN=MIDDLE  ALT=\"1000000%281%2B.0625%2F365%29%5E30+=+1005149.76\"   DISABLED_style= \"max-width:90%; height:auto;\" > to the nearest cent.<br><BR>\n" );
document.write( "The amount earned in those 30 days is then $1,005,149.76 - $1,000,000 $5,149.76. </SPAN>\n" );
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