Question

Victoria Firth’s savings account balance is $247. She deposits an additional $353. The account pays 5.5% interest compounded daily. She makes no other deposits or withdrawals. What will the new balance be after 31 days?

Answer 1

Ok so we know that she has $247 to start off with then she adds $353 so now she has $600 in her bank . We ave to set this problem up like f(x) = 600(0.055)^31 once you work this out you will get the total amount of money that she will have in her back after 31 days.

Answer 2

*have