SOLUTION: alculate the compound amount. Use the compound amount formula and a calculator. (Round your answer to two decimal places.)
P = $9500, r = 4% compounded daily, t = 4 years
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-> SOLUTION: alculate the compound amount. Use the compound amount formula and a calculator. (Round your answer to two decimal places.)
P = $9500, r = 4% compounded daily, t = 4 years
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Question 1134099: alculate the compound amount. Use the compound amount formula and a calculator. (Round your answer to two decimal places.)
P = $9500, r = 4% compounded daily, t = 4 years Answer by addingup(3677) (Show Source):
You can put this solution on YOUR website! How many days are they asking you to use for the year? 360 or 365? I'll use 365, but financial markets mostly use 360 days. If you need 360 days, replace 365 with 360 and re-run the numbers
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9500(1+(0.04/365))^365*4
9500(1.1735) = 11148.25 this is the compound amount
