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Daily vs annual interest
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Thrugelmir wrote: »Compounded or calculated. There's a fundamental difference in terminology.
It is _compounded_ daily. See the second formula I posted. The difference between monthly and daily _compounding_ is not very big, even with ridiculously high annual interest rates such as 50%. Use the formulas and check for yourself.
Monthly versus annual _compounding_ however makes a relatively big difference.0
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