Levi invested $5,300 in an account paying an interest rate of 2.4% compounded daily. Assuming no deposits or withdrawals are made, how much money, to the nearest cent, would be in the account after 6 years?

$6,120.86

Step-by-step explanation:

Formula to calculate the accumulated amount in n years (compounded daily)  is given by :-

P= Initial amount

r= Rate of interest ( in decimal)

As per given , we ahve

P= $5300

r= 2.4%=0.024

n= 6 years

Put these values in formula , we get

Hence, there would be $6,120.86 in the account after 6 years.

351.23

step-by-step explanation: