Evaluate the answer correct to the cent:
$$200(1+0.075×75365)\$ 200\left(1+0.075 \times \frac{75}{365}\right)$

Compound Interest

This form of interest computation involves calculating interest on both the initial principal amount and any interest that has accrued in the past periods on a loan or deposit.

Understand and apply basic principles of time value of money in financial calculations involving simple interest, compound interest, and effective rate calculations.

Verified Answer

Zybrea KnightJun 07, 2024

Final Answer :

$44.18

Learning Objectives

Understand and apply basic principles of time value of money in financial calculations involving simple interest, compound interest, and effective rate calculations.

Evaluate the answer correct to the cent:
$$200(1+0.075×75365)\$ 200\left(1+0.075 \times \frac{75}{365}\right)$

Definitions

Learning Objectives

Learning Objectives

Related questions

Evaluate the answer correct to the cent: $200(1+0.075×75365)\$ 200\left(1+0.075 \times \frac{75}{365}\right)$200(1+0.075×36575​)

Definitions

Learning Objectives

Learning Objectives

Related questions

Evaluate the answer correct to the cent:
$$200(1+0.075×75365)\$ 200\left(1+0.075 \times \frac{75}{365}\right)$