My Iphone 5 is wet. What should I do?

Well, just yesterday my iphone 5 got wet in the rain. I haven't had this phone for atleast a month yet. I told my mom about it, but she's like its going to cost too much to replace the phone or even to buy a new one. I love this phone, everything works perfectly, the volume button, the power button, even the home button, i could hear calls and listen to music also. So the phone is perfectly fine itself, nothing really damaged. But there's water stuck in it, i could see the water underneath the screen whenever i turn on the phone. I been to the Apple Store before and i know that they give you a new Iphone if its damaged, I also have 1 year warranty! But i'm just not sure if Apple will replace my water damaged phone with a new one. I did research online how i could slove this problem, the most commonly thing i saw is to put the phone in a bag of rice for atleast 24 hours. So i tried it, and now i'm just waiting for the outcome results of it. But what if my phone isn't still dry after? Can i get a new one from the Apple Store, or can i fix the phone at a local mobile store for less amount of money. I'm just a teenager and i don't work, but my mom said if i need to fix this phone i have to do it on my own. :/ What should i do?

The soaking in rice should work. If it doesn't you could take it to an apple store or any apple related store & they'll look at it/tell you what to do for free

As long as it works fine I wouldn't worry about it. You can try putting a small fan on it for a day too, the air circulation may help dry it out.

Well, there's opting you can really do to fix the watering under the screen. You should have bought a lifeproof case to protect it from water. I has the same situation happen to my iphone 4 two years ago, and apple wouldn't do anything since it was water damaged. Try taking a hair dryer and swipe it up and down the screen to try and dry up the water inside of it.

Also, the rice thing doesn't work. It's a gimmic… The best way to remove all moisture is to open the device and dry it all off by placing the individual parts in front of a fan, this will wick away the moisture but then also void the warranty.

Best option? Call apple and tell them what happened. Maybe they will help you.

So buy yourself a lifeproof case, or get a Galaxy s3 with an obex waterproof case.