Question

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

Answer 1

Which of the first four years is the leap year?

Answer 2

Here is the formula for you, http://qrc.depaul.edu/studyguide2009/notes/savings%20accounts/compound%20interest.htm

Answer 3

Thank you.

Answer 4

But can you please say if leap year is on one of the 1st 2 years or not, because if so there is going to be 2 leap years, and if not there is going to be 1 leap year.

Answer 5

Also the years are different (in number of days in a year) so "number of times the interest is compounded per year " is different every time (SINCE IT'S COMPOUNDED DAILY). Therefore this formula seems abstruse to me... you know what I mean.

Answer 6

I can help, but tell me which ear is leap year?