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If the annual interest rate is r%, then the equivalent daily compound rate is100*{(1 + r/100)^(1/365) - 1} %
where the exponent of (1/365) represents the 365th root.
You could adjust for leap years either by using 365.25 or using a different rate for leap years.
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What is better daily or monthly compound interest?
daily
Calculate the daily interest on a annual rate of 17.7?
0.04849 %
If the daily interest rate is 3.50 percent what is the annual 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.)
What is 'Annual Equivalent Rate'?
Interest payments can calculated annually, quarterly, monthly, daily or even continuously. To enable consumers to compare rates quoted over different periods, many authorities require financial institutions to calculate the total compound interest over a year. That is the AER.
Calculate the sum to which 6000 will amount in 5years at 12 percent per annum compound interest?
5,132.33^10
What is better daily or monthly compound interest?
daily
Calculate the daily interest on a annual rate of 17.7?
0.04849 %
If the daily interest rate is 3.50 percent what is the annual 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.)
Calculate the daily interest rate on an annual rate of 17.7 percent?
0.04849%
Calculate the daily interest on an annual rate of 18 percent?
it depends on wheather the interest is simple or compound also you should tell me how much money you put in the bank to begin with but lets calculate the interest on one dollar : if it is simple interest then: I=P*R*T where T is in years =1*18/100*1/360 interest on one dollar principal is 0.0005 $ if it is compound interest then: I= P*(R+1)^T-p =0.00046 which is about the same as the simple interest one multiply my answer by the amount that you put into the bank origonally to find out ur interest hope i helped
How do I Calculate interest on 100000?
To calculate an interest (as money), multiply the capital, times the interest rate (divided by 100, if it is expressed in percent), times the number of periods. The above assumes simple interest; compound interest is a bit more complicated.
How many variables are fundamental to all compound interest problems?
Three variables are fundamental to all compound interest problems: principal amount (initial investment), interest rate, and time period. These variables are used to calculate the compound interest accrued on an investment over time.
What is the Formula for daily compound interest?
The formula for the daily compound interest is B=p(1+r over n)NT as an exponent for the nt B= ending balance P= principal amound r= interest rate n= number of compounds per year t= time( in years)
What is 'Annual Equivalent Rate'?
Interest payments can calculated annually, quarterly, monthly, daily or even continuously. To enable consumers to compare rates quoted over different periods, many authorities require financial institutions to calculate the total compound interest over a year. That is the AER.
Calculate the sum to which 6000 will amount in 5years at 12 percent per annum compound interest?
5,132.33^10
What is different about compound interest from normal interest?
Compound interest is calculated on the initial principal plus any accumulated interest, resulting in interest earning interest over time. Normal interest, on the other hand, is only calculated on the initial principal amount and does not take into account any interest that has already been earned.
Which type of interest is calculated by adding the interest earned to the principal?
compound... yes it is compound interest.
