Normandy Textiles had a cash inflow of $$1$ million, which it needs for a long$-$term investment at the end of one year. It

plans to deposit this money in a bank CD that pays daily interest at a $5\mathrm{.}0\%$APR. What will be the value of the

investment at the end of the year? $($Round to the nearest dollar.$)$

$F{V}_1=PVx[1+\frac{i}{m}{]}^{nxm}$