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Calculate the return if bank compounds daily

Question 1. Calculate the return (A) if the bank compounds daily (n = 365). Round the answer. using this formula:

A=P(1+r/n)^ nt

Question 2. If a bank compounds continuously, then the formula takes a simpler, that is A= P e(n)squared where e is a constant and equals approximately 2.7183. Calculate A with continuous compounding.

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Finance Basics: Calculate the return if bank compounds daily

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Finance Basics: Calculate the return if bank compounds daily

Reference No:- TGS01802205

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