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 ✎
Compute how much the initial $10,000 deposit will be worth one year after it is deposited at Megabux.
Confirm the 5.07% "yield."
When will the initial $10,000 deposit be worth $15,000?
Refer to hint in part (a).