What is the amount for an investment of 500$ invested at 5.25 for 40 years compounded daily?

Question

Log stuff

Answer 1

Unless you are working with compounded continuously interest, the problem doesn't involve logarithms.

A = P(1 + r/n)^nt

A = 500(1 + .0525/365)^365(40)

A = 500(1.00014)¹⁴⁶⁰⁰

A = 500(8.16498)

A = $$4082.49