How would I calculate daily compounding interest on a yearly base?

Question

A crypto program takes a total investment and returns a 1% daily interest rate.

So if I invest $1000, after 24 hours my investment remains $1000 and my interest is $10, but that $10 is then compounded to the $1000. So the next day the 1% interest would be out of the $1010. Every day the interest is added to the total, increasing the percentage rate of my income. After 365 days, without adding any additional funds, what would my investment total be?

Answer 1

Your investment total would be $1000 * (1.01³⁶⁵), or about $37,783.43.