WHAT IS P=22,000, Y=4 YEARS N= 365 DAYS AND APR =0.03, THE BALANCE IN THE ACCOUNT AFTER FOUR YEARS=
I am assuming that you included n = 365 to mean that it is compounded 365 times a year.
The compound interest formula is: A = P(1 + r/n)^(n·t)
A = Final Amount P = Beginning Amount = 22,000 r = rate (as a decimal) = 0.03
n = number of times compounded per year = 365 t = number of years = 4
A = 22000(1 + 0.03/365)^(365·4) = 24,804.81
I am assuming that you included n = 365 to mean that it is compounded 365 times a year.
The compound interest formula is: A = P(1 + r/n)^(n·t)
A = Final Amount P = Beginning Amount = 22,000 r = rate (as a decimal) = 0.03
n = number of times compounded per year = 365 t = number of years = 4
A = 22000(1 + 0.03/365)^(365·4) = 24,804.81