Nominal annual interest with daily compounding
Question: You have $2,000 invested in a bank account that pays a 4 percent nominal annual interest with daily compounding. How much money will you have in the account in 132 days from today? (Assume there are 365 days in each year.)
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You have $2,000 invested in a bank account that pays a 4 percent nominal annual interest with daily compounding.
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