If I Invest $50,000. In A CD @ 3.55% For 1 Year, With Daily Compounded Interest, How Much Will I Yield At Maturity?

Principle amount P= 50,000
Interest rate r = 3.55% per year
Number if day n = 365
A = Amount after 'n' interest periods

A= P(1+r/n)^n

= 50,000(1+(.0355/365))^365

= 50000(1+0.0000973)^365
=50,000(1.03614)
=51806.793 >>>answer

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