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Usually, when talking about deposits and compound interest (when the interest accrued not on the initial but 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? It's the same thing in a mathematical sense, but there is no calculator on our website that would allow us 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