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Spartan Credit Bank is offering 6.5 percent compounded daily on its sav Spartan Credit Bank is offering 6.5 percent compounded daily on its savings accounts.
Spartan Credit Bank is offering 6.5 percent compounded daily on its sav |
Spartan Credit Bank is offering 6.5 percent compounded daily on its savings accounts. You deposit $4,900 today. |
a. | How much will you have in the account in 5 years? (Use 365 days a year. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) | ||||||||||||
b. | How much will you have in the account in 10 years? (Use 365 days a year. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) | ||||||||||||
c. | How much will you have in the account in 20 years? (Use 365 days a year. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
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