We are going to use the compound interest formula to solve:
[tex]A=P(1+\frac{r}{n})^{nt}[/tex]Where:
P = initial balance
r = interest rate
n = number of times compounded annually
t = time
1.48% to a decimal
[tex]\frac{1.48}{100}=0.0148[/tex]Since the interest is compounded daily, we will use 365 for n. Therefore:
[tex]A=300(1+\frac{0.0148}{365})^{365(1)}=300(1+\frac{0.0148}{365})^{365}=304.47[/tex]Answer: $304.47
