You deposit 1700 into a savings account for 10 years. How much money will be in the account if the account earns 6% compounded daily (using bankers rule?
My friend and I are at a disagreement on what the final value should be when multiplying. I figured that since the bankers rule is 360 days, and its 10 years straight it would look like this:
1700(0.06)(10).
Then again we are thinking it is too easy to be that. can someone please help?
Thanks! its for a project due on Tuesday!!
CMN and JAS
