Compounded daily on savings accounts

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Reference no: EM131842462

Bucher Credit Bank is offering 7 percent compounded daily on its savings accounts. Assume that you deposit $6,700 today.

1. How much will you have in the account in 6 years? (Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Use 365 days in a year. Round your answer to 2 decimal places (e.g., 32.16).)

Future value $

2. How much will you have in the account in 12 years? (Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Use 365 days in a year. Round your answer to 2 decimal places (e.g., 32.16).)

Future value $

3. How much will you have in the account in 24 years? (Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Use 365 days in a year. Round your answer to 2 decimal places (e.g., 32.16).)

Future value $

Reference no: EM131842462

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