SOLUTION: Suppose $2,300 is deposited in an account for 6 years paying 6% compounded daily. What is the future value of the account?

Algebra ->  Percentages: Solvers, Trainers, Word Problems and pie charts -> SOLUTION: Suppose $2,300 is deposited in an account for 6 years paying 6% compounded daily. What is the future value of the account?      Log On


   

Question 347168: Suppose $2,300 is deposited in an account for 6 years paying 6% compounded daily. What is the future value of the account?
Answer by solver91311(24713) About Me  (Show Source):
You can put this solution on YOUR website!




where is the interest rate per compounding period and is the number of compounding periods.

For your situation:



I'll leave you alone to spend some quality time with your calculator.

John

My calculator said it, I believe it, that settles it
The Out Campaign: Scarlet Letter of Atheism