fowler credit bank is offering 6.7 percent compounded dailyon its savings accounts. If you deposit $7000 today, how much will you have in the account value in 5 years? value In 10 years? value In 20 years?

Answer and Explanation:

The computation of the future value in each case is shown below:

a. For 5 years, its is

Future value = Present value × (1 + interest rate)^number of years

= $7,000 × (1 + 0.067 ÷ 365 days)^ 5 × 365 days

= $7,000 × 1.397897

= $9,785.28

b. For 10 years, its is

Future value = Present value × (1 + interest rate)^number of years

= $7,000 × (1 + 0.067 ÷ 365 days)^ 10 × 365 days

= $7,000 × 1.954117

= $13,678.82

c. For 20 years, its is

Future value = Present value × (1 + interest rate)^number of years

= $7,000 × (1 + 0.067 ÷ 365 days)^ 20 × 365 days

= $7,000 × 3.818574

= $26,730.02

3,500 beverages

explanation:

a recipe serves 8 people, and calls for 5 lbs of apples and 2 cups of flour. you want to prepare it for 24 people. divide 24 by 8 to get 3, and then multiply your ingredients by 3.

so for 24 people, you'll need 15 lbs of apples, and 6 cups of flour.