Verified Answer :

wolf1728

21 days = 21/365 years =



0.0575342466



years
n = compounding periods per year = 365

Total = Principal (1 + rate/n)^nyears
Total = $6,000 * (1+ (.055/365))^365*0.0575342466
Total = $6,000 (1+



0.0001506849



)^21
Total = $6,000 1.00316915570




Total =



$6,019.01

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Answer:


Step-by-step explanation:

that was the total wrong answer my guy... the answer would go like this.


6000 x (1 + 5.5%/365)^21 = $6,019.02


So interest was $19.02 (ignoring rounding, taxes, and assuming the use of 365 day years).

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