Based on the amount of the investment by Normandy Textiles, the value at the end of the year will be $1,038,210.
What is the investment value at year end?
First convert the interest to a daily rate:
= 3.75% / 365
= 3.75/360%
The value is:
= Amount x (1 + rate) ^ number of periods
= 1,000,000 x ( 1 + 3.75/360%) ³⁶⁵
= 1,038,209.99
= $1,038,210
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