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You deposite $1500 in an account that pays 7% annual interest compounded daily. Find the balance after 4 years

Respuesta :

ADVENTUROUSBOY

$1920

Step-by-step explanation:

princiiple (p) = $1500

rate (r) = 7%

time (t) = 4 years

interest = (p × r × t) ÷ 100

= (1500 × 7 × 4) ÷ 100

= 42000 ÷ 100

= $420

amount after 4 years = principle + interest

= $1500 + $420

= $1920

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