jocekinn
jocekinn jocekinn
  • 10-04-2017
  • Mathematics
contestada

Kim Lee deposits $1,200 in a certificate of deposit for 5 years.
Find the compound amount if the interest rate is 4% compounded daily.

Round to the nearest cent.

Respuesta :

Aliwohaish12
Aliwohaish12 Aliwohaish12
  • 10-04-2017
A=1,200×(1+0.04÷360)^(360×5)
A=1,465.67
Answer Link
KitKat69
KitKat69 KitKat69
  • 10-04-2017
PRT=I.
1,200(5)(.04)=I.
6,000(.04)=I.
240=I :)
Answer Link

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