A=5000(1+8.5%365)365⋅36
Convert 8.5% to a decimal.
A=5000(1+0.085365)365⋅36
Divide 0.085 by 365.
A=5000(1+0.00023287)365⋅36
A=5000(1+0.00023287)365⋅36
Add 1 and 0.00023287.
A=5000⋅1.00023287365⋅36
Multiply 365 by 36.
A=5000⋅1.0002328713140
Raise 1.00023287 to the power of 13140.
A=5000⋅21.31996065
Multiply 5000 by 21.31996065.
A=106599.80328498
A=106599.80328498
Solve for A A=5000(1+(8.5%)/365)^(365*36)