How does she come by this answer? Katelynn Miller Math125 Unit 2 02/21/2016 5. How much is your total bill if, instead, the store charges you

How does she come by this answer?

Katelynn Miller

Math125

Unit 2

02/21/2016

5.

How much is your total bill if, instead, the store charges you interest that is compounded

daily? Use 6 digits on your intermediate calculations, and round your final answer to the

nearest cent. (Assume

t

= 2 years.)

MV

=

A

=

7,000

(

1

0.25

365

)

730

MV = A = $11,539.07