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14 September, 23:02

Wanda opened a savings account 20 years ago with a deposit of $3,150.37. The account has an interest rate of 4.1% compounded daily. How much interest has Wanda earned?

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  1. 14 September, 23:08
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    Take the interest rate and divided by 365

    new interest ... > 0.041/365 = (0.0001123)

    if you need to know the future value = 3,150.37 * (1.0001123^ (20*365) - 1) / 0.0001123 = 230981.5216

    do it again in your own
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