SOLUTION: The daily interest multiplier for a savings account paying 2% annual interest for 180 days is 1.010050. What compound amount will be in a savings account if $5,000 is on deposit

Algebra ->  Finance -> SOLUTION: The daily interest multiplier for a savings account paying 2% annual interest for 180 days is 1.010050. What compound amount will be in a savings account if $5,000 is on deposit       Log On


   

Question 1188820: The daily interest multiplier for a savings account paying 2% annual interest for
180 days is 1.010050. What compound amount will be in a savings account if
$5,000 is on deposit in the savings account for 180 days?
Answer by ikleyn(52787) About Me  (Show Source):
You can put this solution on YOUR website!
.

Sorry, you incorrectly use the words and the terms in your post.

The number of 1.0100050 is not a daily interest multiplier in this problem.

It is half-a-year compounding interest multiplier.


When the problem will come in correct form to the forum, you may expect to get a solution.