neverminding the amount of $3000, we know the compound interest is 1.1%, we also know that the compounding period is daily, so hmmm let's assume there are 365days in a year, so
[tex]~~~~~~ \textit{Annual Percent Yield Formula} \\\\ ~~~~~~~~~~~~ \left(1+\frac{r}{n}\right)^{n}-1~\hfill \begin{cases} r=rate\to 1.1\%\to \frac{1.1}{100}\dotfill &0.011\\ n= \begin{array}{llll} \textit{times it compounds per year}\\ \textit{daily, so let's assume 365} \end{array}\dotfill &365 \end{cases} \\\\\\ \left(1+\frac{0.011}{365}\right)^{365}-1 ~~ \approx ~~ 0.01106055 ~~ \approx ~~ 1.106055\% ~~ \approx 1.11\%[/tex]
