I feel retarded asking this but maybe you guys can help.
Here is my issue. 40mm(the principal amount) accruing daily and compounding quarterly for a five year span at an interest rate of 10%.
I'm running on zero sleep and for some reason I am drawing a blank.
Thanks guys
whats the question?
You have a principal amount of 40mm. The investors terms are as follows: 10% on an annual basis The interest accrues daily and then compounds quarterly for the life of the investment. In this case the life of the investment is 5 years.
How do I compute that? What is the total amount of interest earned?
Sorry, should have been a little more clear
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