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how do i figure out daily compound interest. What is the compound interest formula. For example lets say that your brother decides not to replace his old car and instead invests the 2000 proposed down payment earning 35 percent interest.
Students Solve Compound Interest Problems Where Interest Is Compounded Annually Quarterly Monthly Daily An Algebra Word Walls Math Pennant Compound Interest from www.pinterest.com
Start by opening a document and labeling the top cell in columns A B and C Year Value and Interest Earned respectively. Length of Term in days Daily Reinvest Rate. Enter the details.
FV PV 1rn where FV is future value PV is present value r is the interest rate per period and n is the number of compounding periods.
T log AP log 1rn n log 2 log 1 01 4 4 702 years. Use Daily Simple Interest Calculator to calculate the interest on a daily simple interest loan. First divide the annual rate expressed as a decimal by 365 to get the daily rate. It can be handy to visualize compound interest by creating a simple model in Excel that shows the growth of your investment.
