Billy M. answered • 04/19/24
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FV=P(1+r/n)^(n*t)
FV= 40000(1+.0275/365)^(365*2)
FV=$42261.54
Kylie Z.
asked • 04/19/24Find the value (in dollars) of the account after 2 years
A deposit of $40,000 is placed in a scholarship fund that earns an annual interest rate of 2.75% compounded daily. Find the value (in dollars) of the account after 2 years.(Assume all years have 365 days. Round your answer to the nearest cent.)
$
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