Answer:
$29,045.69
Step-by-step explanation:
The total amount accrued, principal plus interest, with compound interest on a principal of $25,000.00 at a rate of 3% per year compounded 365 times per year over 5 years is $29,045.69.
A = P(1 + r/n)nt
A = 25,000.00(1 + 0.03/365)(365)(5)
A = 25,000.00(1 + 8.2192E-5)(1825)
A = $29,045.69
