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Home > CALC > Chapter 6 > Lesson 6.4.2 > Problem 6-147

6-147.
  1. The Business Section of the Metropolis Express lists Megabux Bank as paying 4.95% compounded daily on a $10,000 deposit, for a "yield" (or overall gain) of 5.07%. Homework Help ✎

    1. Compute how much the initial $10,000 deposit will be worth one year after it is deposited at Megabux.

    2. Confirm the 5.07% "yield."

    3. When will the initial $10,000 deposit be worth $15,000?

Refer to hint in part (a).