If you invest $11,277 today at an interest rate of 4.27 percent, compounded daily, how much money will you have in your savings account in 12 years?
Round the answer to two decimal places.
Investment | 11,277.00 | |
Interest rate | 4.27% | |
Compounding interval | daily | |
time | 12 | |
Amount= | 11277*(1+4.27%/365)^(12*365) | |
Amount= | 18,824.05 | |
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