Question 970240
At 2% per year, the daily interest rate is ( 2% / 365 ).
( 2% / 365 ) = 0.02/365 = 0.0000547945
We need to apply the interest rate over 3 days.
If r is the rate of interest for one day,
(1+r)(1+r)(1+r)*9000 will give us the amount in the account
after 3 days.
(1+r)(1+r)(1+r) = (1+r)^3
so (1+r)(1+r)(1+r)*9000 = (1+r)^3*9000
Since r = 0.0000547945
(1+r)^3*9000 = (1+0.0000547945)^3*9000
= (1.0000547945)^3*9000
= 1.000164392507476207796812933625 * 9000
= approximately 9001.47953