Kelly opened a savings account with $500 she received at 8th grade graduation four years ago. The account pays 2.5 percent compounded daily. How much should be in the account now?

Answer 1

I will assume 365 days

i = .025/365
so n = 4(365) = 1460

amount = 500(1 + .025/364)^1460

I got 552.58