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1) You make 0.4% per day in interest in perpetuity. 2) It cost $1 reinvest your interest you accumulate to compound (e.g. adding to your principal so it can make 0.4%).

1) You make 0.4% per day in interest in perpetuity. 2) It cost $1 reinvest your interest you accumulate to compound (e.g. adding to your principal so it can make 0.4%).

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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1) You make 0.4% per day in interest in perpetuity. 2) It cost $1 reinvest your interest you accumulate to compound (e.g. adding to your principal so it can make 0.4%). Question: How much interest should you accumulate before compounding it and paying $1 I feel like this is not as simple as saying; compound when 0.4% of the total interest earned exceeds >$1 Maybe l'm wrong
Transcribed Image Text:1) You make 0.4% per day in interest in perpetuity. 2) It cost $1 reinvest your interest you accumulate to compound (e.g. adding to your principal so it can make 0.4%). Question: How much interest should you accumulate before compounding it and paying $1 I feel like this is not as simple as saying; compound when 0.4% of the total interest earned exceeds >$1 Maybe l'm wrong
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