Question

$6,000 for 6 years at 8½% compounded daily will grow to?

Answer 1

whatever
\(6000(1+\frac{.085}{365})^{6\times 365}\) is
need a calculator for sure

Answer 2

ok let me see im going to try it on mathematics microsoft

Answer 3

What is the little 6x365?
I know that the 6000(1+.085/365) = 6001.40

Answer 4

Compound interest formula? If so, just plug and play.

Answer 5

don't round, put it in your calculator all at once
the only thing you should compute first is \(6\times 365=2190\)

Answer 6

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

Answer 7

http://www.wolframalpha.com/input/?i=6000%281%2B.085%2F365%29^2190

Answer 8

the answer was $3628.20

Answer 9

that is not possible since you started with $6,000