Answer: A≈47791.31
Step-by-step explanation:
A
=
P
(
1
+
r
n
)
n
t
A=P(1+
n
r
)
nt
Compound interest formula
P
=
25000
r
=
0.036
t
=
18
n
=
365
P=25000r=0.036t=18n=365
Given values
A
=
25000
(
1
+
0.036
365
)
365
(
18
)
A=25000(1+
365
0.036
)
365(18)
Plug in values
A
=
25000
(
1.0000986301
)
6570
A=25000(1.0000986301)
6570
Simplify
A
=
47791.3122461
A=47791.3122461
Use calculator
A
≈
47791.31
A≈47791.31
