SOLUTION: Hi there. I'm lost with this math problem.
Calculate the future value of each amount deposited into a daily savings plan. $40,000 at 6.4% per year for 6 weeks.
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Calculate the future value of each amount deposited into a daily savings plan. $40,000 at 6.4% per year for 6 weeks.
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Question 607431: Hi there. I'm lost with this math problem.
Calculate the future value of each amount deposited into a daily savings plan. $40,000 at 6.4% per year for 6 weeks. Answer by ankor@dixie-net.com(22740) (Show Source):
You can put this solution on YOUR website! Calculate the future value of each amount deposited into a daily savings plan. $40,000 at 6.4% per year for 6 weeks.
:
I assume this means it is compounded daily, change 6 weeks to 42 days:
A = 40000*(1 + )^42
Run this thru your calc, I got $40,295.64
