You invest $1700 in an account that earns 1.3% interest compounded daily. Write an equation to model the amount of money at any given time.

Please give an explanation but detailed as possible. I would like to learn how to solve word problems like these and improve on my math. I wan to get better so I can peruse my dream of being an engineer, and math is an important concept to it, so I would highly appreciate some help so I can learn :D