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how do i calculate interest compounded daily. This calculation yields a daily interest rate of 00410958. The more frequent the compounding the more your money will.
Calculate Accumulated Daily Interest Remaining Balance And Number Of Interest Days On A Loan Or Deposit Over Interest Calculator Calculator Interesting Things from www.pinterest.com
Calculate rate of interest in decimal solve for r r AP 1t - 1. Calculating Daily Compound Interest 1. This formula is applicable if the investment is getting compounded annually means that we are reinvesting the money on an annual basis.
For daily compounding the interest rate will be divided by 365 and n will be multiplied by 365 assuming 365 days in a year.
To calculate continuous interest use the formula where FV is the future value of the investment PV is the present value e is Eulers number the constant 271828 i is the interest rate and t is the time in years. If interest is compounded daily find the rate at which an amount doubles itself in 5 years. Assuming the contract has a 365-day year some are 360 the daily interest rate can be found by dividing 15 by 365. Compound Daily Interest Calculator.
