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$6,000 for 6 years at 8½% compounded daily will grow to?
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whatever \(6000(1+\frac{.085}{365})^{6\times 365}\) is need a calculator for sure
ok let me see im going to try it on mathematics microsoft
What is the little 6x365? I know that the 6000(1+.085/365) = 6001.40
Compound interest formula? If so, just plug and play.
don't round, put it in your calculator all at once the only thing you should compute first is \(6\times 365=2190\)
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you should compute \(6000\times (1+\frac{.085}{365})^{2190}\) in one step you are taking such a large power, that any little truncation makes a huge difference at the end
the answer was $3628.20
that is not possible since you started with $6,000
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