If the interest is compounded on a daily basis, for 365 days, the equivalent rate is 0.04466 per cent.
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The effective annual rate for a credit card that carries a 9.9% annual percentage rate (compounded daily) is 10.4%.
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 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.
20% is the annual rate of interest. 10% will be paid after 1/2 year = 6 months 10% of 20,000 = 0.1 x 20,000 = $2,000
Depends on the daily percentage rate.