Im having trouble with a couple questions Please show work s

I\'m having trouble with a couple questions. Please show work so I can understand. Thanks!

Americo Inc., advertises that they pay 12% APR compounded daily on your money if you deposit $500 a month for 5 years. How much will you have accumulated at the end of 5 years? $36,478 $40,898 O $43,895 $58,498

Solution

monthly rate = (1 + 12%/365)³⁰ - 1 = 0.9910%

PMT = 500, N = 60, PV = 0, rate = 0.9910%

use FV function in Excel

value after 5 years ~ 40,898

b. amount = 150*(250/150)^365/15 ~ around 33 million