‚ÄčIf $2500 is invested at an interest rate of 3.5% per year, compounded daily, fi

Algebra
Tutor: None Selected Time limit: 1 Day

If $2500 is invested at an interest rate of 3.5% per year, compounded daily, find the value of the investment after the given number of years. (Round your answers to the nearest cent.)

(a) 2 years
 

(b) 3 years
 

(c) 6 years
Mar 31st, 2015

Formula: 2500*(1+0.035/365)^(365*n), where n is the number of years

a) $2681.26

b) $2776.76

c) $3084.16


Mar 31st, 2015

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Mar 31st, 2015
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Mar 31st, 2015
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