Fowler credit bank is offering 6.5 percent compounded daily on its savings accounts. you deposit $4,900 today. how much will you have in the account in 5 years?

P = 4900

 r = 0.065

n =365

 t = 5

  A =4900( 1+ 0.065/365) ^ (365·5)

A=$6780.54

I will have in the account in 5 years  $6780.54

answer founder's agreement;

consumer credit. an advantage is that it allows consumers to afford expensive goods and services now, increasing their standard of living. however, a disadvantage is that it creates a trap for debt, if people do not have self control, they may see themselves filing personal bankruptcy.