Find the compound interest on a $4,000 investment at 0.75% compounded daily for 14 days. | Click the icon to view the table of compound interest of $100 compounded daily. The interest is S]. (Round to the nearest cent as needed.)
Find the compound interest on a $4,000 investment at 0.75% compounded daily for 14 days. | Click the icon to view the table of compound interest of $100 compounded daily. The interest is S]. (Round to the nearest cent as needed.)
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
Related questions
Question
Transcribed Image Text:Find the compound interest on a $4,000 investment at 0.75% compounded daily for 14 days.
Click the icon to view the table of compound interest of $100 compounded daily.
The interest is S
(Round to the nearest cent as needed.)
Transcribed Image Text:Compound Interest on $100, Compounded Daily (365 Days) (Exact Time, Exact Interest Basis)
Annual rate for selected rates
Days
1.00%
1.50%
1.25%
0.001370 0.002055 | 0.002740 0.003425| 0.004110 |0.004795
0.006849
0.50%
0.75%
1.75%
2.00%
2.25%
2.50%
0.005479
0.010959
1
0.006164
0.006849
0.002740
0.004110
0.006165
0.008219
0.009589
0.014384
0.005480
0.008219
0.012329
0.013699
3
0.004110
0.008219
0.010274
0.012329
0.016439
0.018494
0.020549
4
0.005480
0.010959
0.013699
0.016439
0.019179
0.021920
0.024660
0.027400
0.006850
0.010274 | 0.013699
0.008219 0.012329| 0.016439
0.014384 0.019180
0.021920
0.024660
0.017124
0.020550
0.023975
0.027400
0.034251
0.030826
0.036992
0.043159
0.049326 0.054808
0.024660
0.028771
6
0.020550
0.028771
0.032881
0.041103
7
0.010959
0.038362
0.043844
0.049326
0.009589
0.023975
0.033566
0.047955
0.016440
0.027401
0.032881
0.038363
0.018495
0.020550
0.022605
0.024660
0.017810 | 0.026716
9.
0.012329
0.030826
0.036992
0.043159
0.055493
0.061661
0.013699
0.015070
0.016440
0.061661
0.067829
0.073998
0.080167
10
0.027401
0.034252
0.041103
0.047956
0.054808
0.068514
0.037678
0.041104
11
0.030141
0.045215
0.052752
0.060290
0.075368
0.032882
0.035622
12
0.049326
0.057549
0.065773
0.082223
13
0.044530
0.053438
0.062347
0.071256
1.089078
Expert Solution
Step 1
Compound interest is the interest which gets add to the principal . it is also known as interest on interest
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.Recommended textbooks for you
Essentials Of Investments
Finance
ISBN:
9781260013924
Author:
Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:
Mcgraw-hill Education,
Essentials Of Investments
Finance
ISBN:
9781260013924
Author:
Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:
Mcgraw-hill Education,
Foundations Of Finance
Finance
ISBN:
9780134897264
Author:
KEOWN, Arthur J., Martin, John D., PETTY, J. William
Publisher:
Pearson,
Fundamentals of Financial Management (MindTap Cou…
Finance
ISBN:
9781337395250
Author:
Eugene F. Brigham, Joel F. Houston
Publisher:
Cengage Learning
Corporate Finance (The Mcgraw-hill/Irwin Series i…
Finance
ISBN:
9780077861759
Author:
Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor
Publisher:
McGraw-Hill Education