Is it okay to use my Iphone 4 after dropping it in the lake?

36 hours ago, my white Iphone 4 was dropped into the lake. I was only underwater for about two seconds and also had an otterbox on it. When I grabbed it out, shook it off, and got the case off of it, it didn't seem wet at all. However, I called my fiance and I could hear him perfectly but he couldn't hear me at all. So i'm assuming water just got into the bottom speakers, which the otterbox does not cover. I immediately shut my phone off and put it in a bag of white rice as soon as I got home. Last night, after 24 hours of being in rice, I took it out and tried to turn it on but it showed the battery screen, meaning it was dead, so I plugged it in and waited for it to turn on. When it did, I had my dad call me and we could hear each other just fine. The only issue was that it sounded a little funny when I first turned it on when all my texts came in, the ringing noise was kind of blurred and distorted. So I turned it back off and put it in the bag of rice once again overnight. When I get home tonight, after it has been in the rice for 48 hours, can I take it out and use it? Or do I need to leave it in the rice longer? Also, I read something on the internet saying that it will work fine after you drop it but eventually everything that got wet in the iphone will corrode, does that just go for salt water? Or do I have something to worry about?

Here's the deal fresh water you may get lucky with and it may work for a while however with salt water you are done its gona destroy your phone salt is very corrosive and causes the corrosion. I have an otterbox also and it doesn't protect against water by the way. Anyways ou don't need to put it in rice anymore the damage is done and the rice absorbed all the water it's going to obsorb by now. It may kinda work for a bit longer but if it was in salt water you will need a new phone soon