SOLUTION: p=8,000 at 6.5% compounded daily for 15 years. find future value of given principal p, and find the interest earned in the given period

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Question 735486: p=8,000 at 6.5% compounded daily for 15 years. find future value of given principal p, and find the interest earned in the given period
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
p=8,000 at 6.5% compounded daily for 15 years. find future value of given principal p, and find the interest earned in the given period
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A(15) = 8000(1+(0.065/365))^(365*15)
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A(15) = 8000(1.0001781)^(5475)
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A(15) = 8000*2.6512
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A(15) = $21209.56
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Cheers,
Stan H.
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