0.04849 %
Annual Interest Rate divided by 12= Monthly Interest Rate
3.5% interest compounded daily is equivalent to 3.562% annual yield.(It can't possibly be 3.5% daily. That would compound to 28,394,072% in a year.)
14.4 %. A+
If the interest rate yearly is 16.75% then the daily interest rate will be 16.75%. The daily, weekly, monthly, or hourly rate doesn't change from one time frame to the next.
If not compounded monthly, a monthly interest rate is simply 1/12 of the annual rate. Things do get complicated, though if the interest is compounded monthly. An annual interest rate of R% is equivalent to a monthly rate of 100*[(1 + R/100)^(1/12) - 1] %
0.04849%
Annual Interest Rate divided by 12= Monthly Interest Rate
3.5% interest compounded daily is equivalent to 3.562% annual yield.(It can't possibly be 3.5% daily. That would compound to 28,394,072% in a year.)
14.4 %. A+
0.050410958904109589041095890410959%
If the interest is simple exact interest, the answer is 17.7/365 = 0.0485 daily percent interest, to the justified number of significant digits.
If the interest rate yearly is 16.75% then the daily interest rate will be 16.75%. The daily, weekly, monthly, or hourly rate doesn't change from one time frame to the next.
Multiply the monthly interest rate by the number of months is a year to calculate the annual interest rate: 2% x 12mo = 24%
If not compounded monthly, a monthly interest rate is simply 1/12 of the annual rate. Things do get complicated, though if the interest is compounded monthly. An annual interest rate of R% is equivalent to a monthly rate of 100*[(1 + R/100)^(1/12) - 1] %
14.4%
The answer will depend on the interest rate. Multiply the annual interest rate (in percentage terms), by 10000/365
If the interest is compounded on a daily basis, for 365 days, the equivalent rate is 0.04466 per cent.