Register
Login
Username
Password
Login
forgot your password?
Home
Forum
^{+0}
Formulary
Maths
Help
Complex Numbers
Integral Calculus
Differential Calculus
Equations
Graphs
Linear Algebra
Number theory
Percent
Standard Functions
Statistics
Trigonometry
Unit Conversion
Units
About
Imprint
Privacy Policy
Terms of Service
Credits
Google+
Facebook
Contact Email
Post New Answer
All Questions
^{+0}
Compound interest HELP!
+10
2
2157
1
IF you have $28210.00 to invest, how much interest will you earn on a 6 year investment with an interest rate of 3.10% per annum, compounded daily?
Guest
Jan 26, 2012
1
^{+0}
Answers
#1
+3144
0
1year = 365.2425days (leap years included, gregorian calendar days)
t = 6years = 2191.455days
interest rate per day: x = 3.10% / 365.2425
C=28210.00$
compound interest P:
P = C*(1+x)t
P= 28210.00$ * (1+3.10% / 365.2425)^2191.455 =
33976.48$
admin
Jan 26, 2012
Post New Answer
5 Online Users
Top Users
+129526
CPhill
moderator
+118625
Melody
moderator
+33616
Alan
moderator
+14965
asinus
moderator
+12530
Omi67
moderator
+3144
admin
administrator
+2432
GingerAle
+1975
saseflower
+1847
tomtom
+1756
LiIIiam0216
+1654
bader
Sticky Topics
Some guidelines for question askers.
What is Happening 5
Again a number puzzle. Multiply in writing.
Loads of fun printable number and logic puzzles
¤¤¤¤Welcome To Web2.0calc¤¤¤¤
How to display latex properly
Feature Questions 1 - Started 8th May 19
How to upload a picture.
If a question is ticked that does not mean you cannot continue it.
Should you consider anything before you answer a question?
Geometry Thread
PUZZLES
LaTex Coding
/calculator/bsh9ex1zxj
Historical post!
What is happening? Wrap #4
Great Questions to Learn From 2
Great Answers to Learn From
Reference Material
Information for new people.