Ask Question
18 November, 17:52

Mark received $125,000 from an injury. If he puts his money in the bank

that pays 5.5% interest that compounds daily for 22 days, how much

money will he have? How much interest did he earn?

+4
Answers (1)
  1. 18 November, 21:02
    0
    Mark will have 125,420.81

    Mark will earn interest for 420.81

    Explanation:

    If you start with 125,000.00 in a savings account earning a 5.5% interest rate, compounded Daily, after 22 Days your savings account will have grown to 125,420.81 of which 125,000.00 is the total of your beginning balance plus deposits, and 420.81 is the total interest earnings.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Mark received $125,000 from an injury. If he puts his money in the bank that pays 5.5% interest that compounds daily for 22 days, how much ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers