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A=P(1+(x)/(n))^(nt)quad P=(A)/((1+(x)/(n))^(nt))quad A=Pe^(rt)quad Y=(1+(x)/(n))^(n)-1 Principal: $40,000 Rate: 7.5% Compounded: daily Time: 10 years A) amount in account: $82,441.26; interest earned: $42,441.26 B) amount in account:
A=P(1+(x)/(n))^(nt)quad P=(A)/((1+(x)/(n))^(nt))quad A=Pe^(rt)quad Y=(1+(x)/(n))^(n)-1 Principal: $40,000 Rate: 7.5% Compounded: daily Time: 10 years A) amount in account: $82,441.26; interest earned: $42,441.26 B) amount in account: $43,115.03; interest earned: $3115.03 C) amount in account: $84,673.73; interest earned: $44,673.73 D) amount in account: $84,673.39; interest earned: $44,673.39
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Managerial Accounting
Authors: John J. Wild, Ken W. Shaw
2010 Edition
9789813155497, 73379581, 9813155493, 978-0073379586
