Matt20236 Matt20236

23-04-2019
Mathematics

contestada

Use B=P(1+r/n) to find out the balance in marks account if he deposited 1950.00 at 2% Compounded daily for 4 years

Respuesta :

23-04-2019

Answer: $2112.40

Step-by-step explanation:

r = 0.02 (2%)

n = 365 (daily for a year)

p = 1950

You wrote the formula wrong too:

B = P x (1+r/n)^nt

t = 4

B = 1950 x 1.08...

B = $2112.40

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