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APR stands for annual percentage rate. That being the case, it does not matter whether the interest is compounded every day or every millisecond. The effect, at the end of a year is interest equal to 2.25 percent.

So, 2000 at 2.25 percent compounded, for 4 years = 2000*(1.0225)4 = 2000*1.093083 = 2186.17

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โˆ™ 2012-03-29 16:01:36
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Q: What is 2000.00 for 4 years compounded daily at 2.25 percent apr?
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