Pre-Calculus, 9th edition
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11
| PAGE: 319 | SET: Exercises | PROBLEM: 11 |
Please look in your text book for this problem Statement
Principal Income is 
Rate of interest 
.
Time period is 
years.
Find the Total amount when compounded daily by using compound interest formula:
.
For monthly compounded 
.
Substitute all the values in the equation.
Therefore,the total amount after three years compounded daily with interest of 
is 
.
The total amount after three years compounded daily with interest of 
is 
.
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