1. Vincent deposited $1,650 in a savings account that earns 3.5% interest compounded daily for 90 days. Find the maturity value after the money has been in Vincent's account for 90 days. Use the table below. Interest by Quarter for 3.5% Compounded Daily Assuming 90-day Quarters Number of Quarters 1 2 3 $1,664.30 $1,678.92 O$1,632.46 $1,698.71 Value of (1+1) 1.008667067 1.017409251 1.026227205 1.035121585

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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1. Vincent deposited $1,650 in a savings account that earns 3.5% interest compounded daily for
90 days. Find the maturity value after the money has been in Vincent's account for 90 days. Use
the table below.
Interest by Quarter for 3.5% Compounded Daily
Assuming 90-day Quarters
Number of Quarters
1
2
3
4
$1,664.30
$1,678.92
$1,632.46
$1,698.71
Value of (1+1)
1.008667067
1.017400251
1.026227205
1.035121585
Transcribed Image Text:1. Vincent deposited $1,650 in a savings account that earns 3.5% interest compounded daily for 90 days. Find the maturity value after the money has been in Vincent's account for 90 days. Use the table below. Interest by Quarter for 3.5% Compounded Daily Assuming 90-day Quarters Number of Quarters 1 2 3 4 $1,664.30 $1,678.92 $1,632.46 $1,698.71 Value of (1+1) 1.008667067 1.017400251 1.026227205 1.035121585
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