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.
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.)
If the interest is compounded on a daily basis, for 365 days, the equivalent rate is 0.04466 per cent.
0.04849 %
If the annual equivalent rate of interest is 8.5 percent then it makes no difference how frequently it is compounded. The amount will grow to 9788.81 On the other hand 8.5 percent interest daily is equivalent to 8.7 trillion percent annually! If my calculation is correct, after 6 years the amount will have grown to 2.85*10198 (NB 10200 = googol squared).
No if the account earns interest daily, it's earning interest on interest essentially. So if you have $100 and you earn 1% interest, you would have $101 dollars the next day and earn 1.01 dollars in interest, and so on.
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.
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.)
0.04849%
0.050410958904109589041095890410959%
If the interest is compounded on a daily basis, for 365 days, the equivalent rate is 0.04466 per cent.
0.04849 %
If the annual equivalent rate of interest is 8.5 percent then it makes no difference how frequently it is compounded. The amount will grow to 9788.81 On the other hand 8.5 percent interest daily is equivalent to 8.7 trillion percent annually! If my calculation is correct, after 6 years the amount will have grown to 2.85*10198 (NB 10200 = googol squared).
No if the account earns interest daily, it's earning interest on interest essentially. So if you have $100 and you earn 1% interest, you would have $101 dollars the next day and earn 1.01 dollars in interest, and so on.
The effective annual rate for a credit card that carries a 9.9% annual percentage rate (compounded daily) is 10.4%.
The percent daily values is based on a 2,000 calorie per day diet.
The answer will depend on the interest rate. Multiply the annual interest rate (in percentage terms), by 10000/365
14.651