Here's there info:
"Interest is calculated using the daily balance method. This method applies a daily periodic rate to the principal in the account each day. Interest is compounded on a daily basis and credited to the account on a monthly basis."
So can someone assist with helping me understand how to calculate this...using real numbers?
"Interest is calculated using the daily balance method. This method applies a daily periodic rate to the principal in the account each day. Interest is compounded on a daily basis and credited to the account on a monthly basis."
So can someone assist with helping me understand how to calculate this...using real numbers?