SOLUTION: Interest Homework APR Find the amount of compound interest earned in an account that opens with $27,000, earns 6.4% interest compounded daily, and is held for 25 years. Assume 360

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Question 472653: Interest Homework APR
Find the amount of compound interest earned in an account that opens with $27,000, earns 6.4% interest compounded daily, and is held for 25 years. Assume 360 days in a year. (Round your answer to the nearest cent.)
This is the only problem that I cannot get right on my homework assignment. I would appreciate it very much if someone can help me solve it. Thanks again!
Answer by robertb(5830) About Me  (Show Source):
You can put this solution on YOUR website!
Balance: B+=+27000%281%2B0.064%2F360%29%5E%28360%2A25%29+=+27000%281.000177778%29%5E9000+=+133713.13
==> Amount of interest earned is 133,713.13 - 27,000 = 106,713.13.