The formula for this equation?
x starts with a 1000$
He gains 2.33 daily for 5/7 days a week.
How much did he gain after a year?
2.33% that is.
x starts with a 1000$
He gains 2.33 daily for 5/7 days a week.
How much did he gain after a year?
2.33% that is.
Jeff Aaron
Favorite Answer
The average number of calendar days in a calendar year is 365.2425, so we have:
$1000 * (1 + (2.33/100))^(365.2425 * 5/7)
= $1000 * (1 + 0.0233)^260.8875
= $1000 * 1.0233^260.8875
=~ $407,052.96
?
(5/7)*2.33*365 = $607.46
Sum = $1607.46