Chat with our AI personalities
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.)
We still need to know how often the interest is compounded ... Weekly ? Daily ? Hourly ? What does "continuous" mean ?
5 years
x
Simple interest compounded annually and reinvested will yield 619173.64 before taxes.