Johnny borrows $30,000 from Tony at 4% daily interest compounded daily. How much does Johnny owe Tony after 6 weeks? Choose the correct choice.
A) 30000*0.02^56  B) 30000*1.12  C) 30000*2.12  D) 30000*1.04^42  E) (30000*1.02)^56
A=A= P(1+r100)^n   So, A=30000(1+4/100)^7âˆ—6   So, A=A= 30000(1.04)^42   Hence answer will be (30000*1.04^42)
<result>D</result>
Johnny borrows $30,000 from Tony at 4% daily interest compounded daily. How much does Johnny owe Tony after 6 weeks?