You have your money in an account that pays 2.38% interest compounded daily. If you leave that money for 18 years, how many compounding periods will there be total?

about 0.75 hours

step-by-step explanation:

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step-by-step explanation:

the answer is:

the answer is:

to solve the problem, we need to remember the quotient of power property, it's defined by the following relation:

if we have a quotienf of powers that have the same base, we need to keep the same base and subtract the exponent of the denominator power to the exponent of the numerator power.

so, we are given the expression:

then, calculating we have:

hence, the answer is:

have a nice day!