Compound interest is the interest which applies on both the initial principal and the accumulated interest.
The amount in the account be worth after 4 days is,
[tex]A=83000(1+\dfrac{x}{365})^{1460}[/tex]
Compound interest is the interest which applies on both the initial principal and the accumulated interest. It can be given as,
[tex]A=p(1+\dfrac{r}{n})^{nt}[/tex]
Here [tex]A[/tex] is the total amount after [tex]t[/tex] years on the principal amount [tex]p[/tex] with interest rate of [tex]r[/tex].
The formula for daily compound interest can be given as,
[tex]A=p(1+\dfrac{r}{365})^{365t}[/tex]
Given information-
The initial amount deposited in the account is $83000.
The period of time is 4 days.
Suppose the interest rate is [tex]x[/tex]. Put the values in the above formula to find out the account be worth after 4 days,
[tex]A=83000(1+\dfrac{x}{365})^{365\times4}\\A=83000(1+\dfrac{x}{365})^{1460}[/tex]
Thus the amount in the account be worth after 4 days is,
[tex]A=83000(1+\dfrac{x}{365})^{1460}[/tex]
Learn more about the compound interest here;
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