If you invest 4330 today at an interest rate of 780 percent

If you invest $4,330 today at an interest rate of 7.80 percent, compounded daily, how much money will you have in your savings account in 19 years?

Solution

Principle = 4330

r = rate of interest = 0.078 / 365

(1+r) = 1 + 0.078/365 = 365.078 / 365

n = 19 Years * 365 = 6935

Amount = Principle * (1+r)ⁿ = 4330 * ( 365.078 / 365)⁶⁹³⁵= 19056.52