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In an "Interest Bearing Account" with fixed payment of...

<< Back to: sci.math FAQ: Formula for Compound Interest

Question by Martha S.
Submitted on 6/2/2004
Related FAQ: sci.math FAQ: Formula for Compound Interest
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In an "Interest Bearing Account" with fixed payment of $3750.00 at regular intervals say daily compound is correct to calculate in 14 years which is 5110 days with variable interest,
example: (1+0.0325/365)y/x 5110=1.56141-1=0.576141/5110=0.000112747*3750.00=0.4228012*31=13.11
or in this form , first year/5110 days then second year/4745 days then third year/4380 days etc.
I need to know if someone knows where I can find a book with this type of equations in Interest bearing checking account.
Thank You
My e-mail is msrealty52@aol.com


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