what would $5000 compounded daily at 1.5% be after 1 year

Answer 1

Pt = Po(1+r)^n

r = (1.5%/360) / 1oo% = 0.0000417 = DPR
expressed as a decimal.

n = 360 comp. per yr.

Pt = 5000(1.000041666)^360 = $5074.52.