Johnny borrows $40,000 from Tony at 4% daily interest compounded daily. How much does Johnny owe Tony after 8 weeks?  Answers:
A) 40000*0.02^56
B) 30000*1.12
C) 40000*2.12
D) 40000*1.04^56
E) (40000*1.02)^56
A=A= P(1+r100)^n   So, A=40000(1+4/100)^7âˆ—8   So, A= 40000(1.04)^56   Hence answer will be (40000*1.04^56)
<result>D</result>
Johnny borrows $40,000 from Tony at 4% daily interest compounded daily. How much does Johnny owe Tony after 8 weeks?