a person has 1000$ and every day I make only one transaction at a profit rate of only 0.5%, what will be the profit percentage and the total amount after a year?

✅ Data:

•Capital = 1000$

•Daily profit rate = 0.5% = 0.005

•Number of days in a year (considering 365 days)

✅ Equation:

We use the compound interest formula:

\text{Final Amount} = P \times (1 + r)^n

Where:

•P = 1000 (Capital)

•r = 0.005 (Daily rate)

•n = 365 (Number of days)

✅ Result:

•Net profit over a year = 6170 - 1000 = 5170 dollars