You would like to have $1,000 one year (365 days)from now and you find that the bank is paying 7% compounded daily.How much will you have to deposit with the bank today to be able to have the $1,000?

Name: You would like to have $1,000 one year (365 days)from now and you find that the bank is paying 7% compounded daily.How much will you have to deposit with the bank today to be able to have the $1,000?
Brand: Quizplus
Rating: 4.7 (61 reviews)

Question

Quizplus · Accepted Answer

1,000 / [1 + (.07/365)]³⁶⁵ = 932.40

You Would Like to Have $1,000 One Year (365 Days)from