QUESTION FOUR
Suppose on January 1 you deposit $\$ 100$ in an account the pays a nominal, or quoted, interest of $11.33463 \%$, with interest added (compounded) daily, How much will you have in your account on October 1, or after 9months?

Answer

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Answer

$ \boxed{108.87} $ is the amount in the account on October 1 after 9 months.

Steps

Step 1 ：Given the initial deposit P = $100, annual interest rate r = 11.33463%, daily compounding n = 365, and time t = 9 months (0.75 years). We use the compound interest formula: A = P * (1 + r/n)^(nt)

Step 2 ：Plug in the values: A = 100 * (1 + 0.1133463/365)^(365 * 0.75)

Step 3 ：Calculate the future value: A = 108.87132870768002

Step 4 ：$ \boxed{108.87} $ is the amount in the account on October 1 after 9 months.

QUESTION FOURSuppose on January 1 you deposit $\$ 100$ in an account the pays a nominal, or quoted, interest of $11.33463 \%$, with interest added (compounded) daily, How much will you have in your account on October 1, or after 9months?

Answer

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QUESTION FOUR
Suppose on January 1 you deposit $\$ 100$ in an account the pays a nominal, or quoted, interest of $11.33463 \%$, with interest added (compounded) daily, How much will you have in your account on October 1, or after 9months?