Question

Adair has deposited $361 in a savings account that earns interest at a rate of 1.3% compounded daily. What will the account balance be in 16 years?

Answer 1

$444.47
$580.02
$469.30
$365.69

Answer 2

I keep getting an overflow error but im pretty sure im doing it right, im using the formula my teacher gave me :(

Answer 3

B = 361(1+.013/365)^16*365

B = 444.47

Answer 4

its probably your calculator can't handle those small numbers raised to that large a power

Answer 5

thats what I did :( , thank you ! yea that probably it o.O

Answer 6

i used a graphing calc, it worked fine

Answer 7

oh i hav to get one of those haha