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Thread: calculating interest compounded daily

  1. October 24th 2010, 10:57 AM #1
    mollyh
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    calculating interest compounded daily

    having trouble entering into calculator TI 83+ word problem for calculating investment earning 3.5% compounded daily in order to accumulate 75,000 in 10 years. Using formula P=A/(1+r/n)^nt..can't get large exponent to calculate...wonder if use e^x function ...any help appreciated
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  2. October 24th 2010, 11:05 AM #2
    Unknown008
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    75000=P\left(1+\dfrac{0.035}{360}\right)^{360(10)}

    My calculator gets the invested amount as P = 52852.51
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