9514 1404 393
Answer:
3.77
Step-by-step explanation:
For daily compounding, the balance is ...
A = P(1 +r/365)^n . . . . principal P invested at annual rate r for n days
A = 1000(1 +0.055/365)^25 ≈ 1003.77
Of this amount, 1000 is the original principal. The difference is the interest.
The interest earned is 3.77.
