Question
If your bank account pays annual interest rate of 0.2% and compounds the interest every day, how much is the future value of $500 saved
If your bank account pays annual interest rate of 0.2% and compounds the interest every day, how much is the future value of $500 saved in the account for 3 years? (include the equation)
Hint: Assume there are 365 days per year.
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Focus On Personal Finance
Authors: Jack Kapoor, Les Dlabay, Robert Hughes, Melissa Hart
6th Edition
125991965X, 978-1259919657
