Usually, when talking about deposits and compound interest (when the interest accrued not on the initial but on the accreted amount), monthly, quarterly or semi-annual interest calculations are used.
Sometimes the questions appear - what if the rate is indicated for a month and the interest is accrued daily? In a mathematical sense, it's the same thing, but there is no calculator on our website that would allow to set, for example, 30 percent accruals for one month at a monthly rate of 16%. The calculator below now allows you to do this.
This calculator just shows the calculation by compound interest formula
where you can set all the parameters
Save the calculation to reuse next time or share with friends.