Here,
P = 4300
r = 2.3%=0.023
t = 1 year
n= 365 (as compounded daily for one year)
Therefore, we have
[tex]\begin{gathered} A=P(1+\frac{r}{n})^{nt} \\ =4300\times(1+\frac{0.023}{365})^{365} \\ =4400 \end{gathered}[/tex]Therefore the interest is, 4400-4300=1000.
