Find the amount of compound interest earned in an account that opens with $27,000, earns 4.6% interest compounded daily, and is held for 15 years. Assume 360 days in a year. (Round your answer to the nearest cent.
annual increase factor
= (1 + 0.046/360)^360 = 1.047071335
After 15 years, principal will increase by a factor (1.047071335)^15 = 1.99362768
Principal after 15 years = 27,000 x 1.99362768 = $53,827.95