Answer:
After three days Heng will have 9000.15 in his account.
Step-by-step explanation:
In order to solve this problem, we must apply the correct formula, which is given below:
[tex]M = C*(1 + r/n)^{n*t}[/tex]
Where M is the final amount, C is the money invested, r is the annual interest rate, n is the number of times the money gets compounded in a year and t is the time elapsed. Since in this account the money is compounded daily, it means that for each year it gets compounded 365 times, therefore n = 365. The ammount will be compounded for 3 days, therefore we must convert this value to years in order to apply it in the "t" variable, we do that by dividing it by 365. With this knowledge we can solve the problem as shown below:
[tex]M = 9000*(1 + \frac{0.002}{365})^{365*\frac{3}{365}[/tex]
[tex]M = 9000*(1.000005479)^{3}\\M = 9000.15\\[/tex]
After three days Heng will have 9000.15 in his account.
