Carl put $450 in a savings account at 2.5 percent interesst, compounded daily. How much money will he have in a year? Round to the nearest dollar.
A. $443
B. $452
C. $405
D. $461
Math Question?
2018-03-07 7:08 pm
回答 (5)
2018-03-07 7:19 pm
✔ 最佳答案
Assume that there are 365 days in this year.Sum
= Principal × [1 + (daily interest rate)]^365
= $450 × [1 + (2.5%/365)]^365
= $461.3914092
≈ $461 (to nearest dollar)
The answer: D. $461
2018-03-07 11:37 pm
Carl put $450 in a savings account at 2.5 percent interest, compounded daily.
How much money will he have in a year?
Round to the nearest dollar.
Answer choice:
D. $461
How much money will he have in a year?
Round to the nearest dollar.
Answer choice:
D. $461
2018-03-07 8:57 pm
Principal P= $ 450
Time, T = 1 year = 365 days
Rate of interest, R = 2.5 % pa= 2.5/365 per day
Then Amount A= Px(1+R/100)^T =$ 450{1+(2/365)/100}^36=461.39
= $461.39 or say $461 Hence D
Time, T = 1 year = 365 days
Rate of interest, R = 2.5 % pa= 2.5/365 per day
Then Amount A= Px(1+R/100)^T =$ 450{1+(2/365)/100}^36=461.39
= $461.39 or say $461 Hence D
2018-03-07 7:17 pm
I think D. $461 is the nearest.
2018-03-07 7:09 pm
d
收錄日期: 2021-05-01 14:49:34
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