Question

You invest an initial $2,000 in an account that has an annual interest rate of 6%, compounded daily. How much money will you have in the account after 15 years? Round your answer to the nearest whole number.

Answer 1

Are you sure it's 6% daily?

Answer 2

yup

Answer 3

\[y=yoe ^{tk}\]
yo: initial=2000
t:time=15 years
k:rate=6/day
conv=15 years to dealy= 15*365
\[yo=2000e ^{15*365*6/100}\]