Answered

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Cooper invested $1,100 in an account paying an interest rate of
3.8% compounded daily. Assuming no deposits or withdrawals are
made, how much money, to the nearest cent, would be in the
account after 10 years?
Help plzzzxx!!

Sagot :

Answer:

$1608.48

Step-by-step explanation:

A = P(1 + r/n)^nt

P: 1100   3: 3.8% / year     n: 365/year   t: 10 years

A = 1100 (1 + 0.038/365)³⁶⁵*¹⁰ = 1608.48

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