Tracy D. answered • 09/04/20

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The equation for compound interest rate problems is

P = P_{o}(1±r/t)^{n(t)}

r = .039

t = 365

The daily rate = .039/365

The factor for 1 compounding period (a year) = (1+(.039/365))^{365} = 1.039768317

the "growth" factor portion is = 3.9768317%

Tracy D.

09/04/20