The formula for compound interest is given by :
A=P(1+r/n)^(nt)
[tex] A=P(1+\frac{r}{n} )^(nt) [/tex]
Here we are given that
P=50000
time(t) = 20 years
rate =7%=0.07
n=365 ( daily)
Plugging in the values in the given formula we get
[tex] A=50000(1+\frac{0.07}{365} ^(365*20) [/tex]
Answer : A=202732.78381....
