Johnny borrows $50,000 from Tony at 3% daily interest compounded daily. How much does Johnny owe Tony after 4 weeks?  Pick one: A) 50000*0.02^28 B) 50000*1.12 C) 50000*2.12 D) 50000*1.03^28 E) (50000*1.02)^28
A=A= P(1+r100)^n   So, A=50000(1+3/100)^7âˆ—4   So, A= 50000(1.03)^28   Hence answer will be (50000*1.03^28)
<result>D</result>
Johnny borrows $50,000 from Tony at 3% daily interest compounded daily. How much does Johnny owe Tony after 4 weeks?