How much would the 1 million dollar account earn in 2 years at 2.12% if the interest was compounded daily?

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  • 2 months ago

    ZERO, because NO ONE would park $1,000,000 at 2.12%.

  • 2 months ago

    A = P(1+r/n)^nt

    r=interest rate

    n=# compounds per time frame (ie 365 per year)

    t=time frame

    P=principal

    A=1,00,000(1+.0212/365)^1*365

    ****insert this into calculator****

    A=1,021,425.69

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