You inherit $775,000 and decide to invest it for 55 days compounded daily at 6% annual interest. After the 55 days, you are going to invest your…

You inherit $775,000 and decide to invest it for 55 days compounded daily at 6% annual interest. After the 55 days, you are going to invest your new-found money in a startup business.

a)   How much interest is earned on this investment?

You can either use the Future Value formula or Table 13-2