Calculating compound interest to find balance in account

Reference no: EM1333893

Use the appropriate compound interest formula to compare the balance in the account after the stated period of time.

$15,000 is invested for 3 years with an Apr of 5% and daily compounding.

The balance in the account after 3 years is __________

Reference no: EM1333893

Questions Cloud

Which algorithm makes the most efficient use of memory : Given memory partitions of 100 kb, 500 kb, 200 kb, 300 kb, and 600 kb (in order), how will each of the first-fit, best-fit, and worst-fit algorithms place processes of 212 kb, 417 kb, 112 kb, and 426 kb (in order)?Which algorithm makes the most ef..

Explain consumer behavior differences to brick and mortar : Explain Consumer Behavior differences to brick and mortar store and What are the differences in the purchasing experience between buying a book at Amazon

Bias blocked your ability to make rational decision : Discuss how bias has blocked your ability to make a rational decision. In your answer, discuss the heuristic that you may have used and the bias associated with that heuristic.

How various blocks of main memory are there : A computer using fully-associative cache has 2^32 words of main memory and a cache of 1024 blocks. Each cache block includes 32 words.

Calculating compound interest to find balance in account : Use the appropriate compound interest formula to compare the balance in the account after the stated period of time.

Ozone depletion, global warming and declining biodiversity : Ozone depletion, global warming and declining biodiversity

Find total amount after years of compounded interest : If someone is 21 years old, deposits $5000 each year into a traditional Individual Retirement Account how much money will be in the account upon retirement?

Developing nations are often concerned that their terms : Developing nations are often concerned that their terms of trade might deteriorate as economic growth occurs.

Differences between senior management and staff : How could HRM strategy be affected by cultural differences between senior management and staff?

User Account

All Pages