19. Amount of $1.00 at 5.5% Compounded Daily, 365-Day Year Day 21 22 23 24 25 Amount 1.00316 |1.00331 1.00347 1.00362 1.00377 Day 31 32 33 34 35 Amount 1.00468 1.00483 1.00498 1.00513 1.00528 Day 21=1.00316 Use Figure 5.2. Alana Geltner deposited $2,225 in a savings account that pays 5.5% interest compounded daily. How much interest did she earn after 21 days?
19. Amount of $1.00 at 5.5% Compounded Daily, 365-Day Year Day 21 22 23 24 25 Amount 1.00316 |1.00331 1.00347 1.00362 1.00377 Day 31 32 33 34 35 Amount 1.00468 1.00483 1.00498 1.00513 1.00528 Day 21=1.00316 Use Figure 5.2. Alana Geltner deposited $2,225 in a savings account that pays 5.5% interest compounded daily. How much interest did she earn after 21 days?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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
Transcribed Image Text:chromebeook
the
19.
Amount of $1.00 at 5.5%
Day
21
22
23
24
25
Compounded Daily, 365-Day Year
Amount
1.00316
1.00331
1.00347
1.00362
1.00377
Day
31
32
33
34
35
Amount
1.00468
1.00483
1.00498
1.00513
1.00528
Day 21=1.00316
Use Figure 5.2. Alana Geltner deposited $2,225 in a savings account that pays 5.5% interest compounded daily.
How much interest did she earn after 21 days?
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