SOLUTION: compute the amount earned on $100,000 invested at 3.26% APR in one year if compounding is taking place daily

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Question 938082: compute the amount earned on $100,000 invested at 3.26% APR in one year if compounding is taking place daily
Answer by ewatrrr(24785) About Me  (Show Source):
You can put this solution on YOUR website!
In General A%28t%29+=+P%281%2Br%2Fn%29%5E%28nt%29
A = Accumulated Amount
P= principal = $100,000
r= annual rate = .0326
n= periods per year = daily (365)
t= years = 1
....
A%281%29+=+100000%281%2B.0326%2F365%29%5E%28365%29