If you invest $15,000 today at a 6% interest compounded daily, what will be your ending value after 12 years?

Amount after 12 year will be $30762.16

Explanation:

We have given amount invested = $15000

Rate of interest r = 6 %

Time t = 12 years

As investment is compounded daily

So rate of interest %

As 1 year = 365 days

So 12 year = 12×365 = 4380 days

We know that future value is given by

So $

So amount after 12 year will be $30762.16

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