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How can I calculate the daily interest rate for a financial investment?
To calculate the daily interest rate for a financial investment, divide the annual interest rate by 365 (the number of days in a year). This will give you the daily interest rate.
How can I use the 30/360 interest calculator in Excel to determine the total interest accrued on a loan or investment?
To use the 30/360 interest calculator in Excel, you can input the loan amount, interest rate, and the number of days to calculate the total interest accrued. Excel will automatically calculate the interest based on a 30-day month and a 360-day year, providing you with the total interest amount on the loan or investment.
How is savings bank rate calculated?
There was a change recently in India about the calculation of savings account interest rate.Earlier Method: The minimum balance maintained in the account between the 10th and the last day of the month (say 30th or 31st) will be taken for the interest computationNew Method: The balance at the end of every day will be taken into account for interest computation.Let us check this with a real time example:Mr. X get his salary of Rs. 50,000/- on the 1st - Balance in Account Rs. 50,000/-Withdraws Rs. 20,000/- for family expenditure on 8th - Balance in Acc Rs. 30,000/-EMI on Personal loan Rs. 15,000/- deducted on 15th - Balance in Acc Rs. 15,000/-Withdrawal of Rs. 10,000/- to meet sudden expenses on 25th - Balance in Acc Rs. 5,000/-Now let us compute the Interest earned in the account by both ways.As per the Earlier Method:Amount considered for interest computation = Rs. 5,000/-Interest earned for the month = Rs. 14.58/-As per the New Method:Balance considered for Interest for 7 days = Rs. 50,000/-Balance considered for Interest for the next 7 days = Rs. 30,000/-Balance considered for Interest for the next 10 days = Rs. 15,000/-Balance considered for the last 6 days = Rs. 5,000/-Total No. of days in the month = 30 daysInterest for first 7 days (Rs. 50,000/-) = Rs. 34.02/-Interest for next 7 days (Rs. 30,000/-) = Rs. 20.41/-Interest for next 10 days (Rs. 15,000/-) = Rs. 14.58/-Interest for the last 6 days (Rs. 5,000/-) = Rs. 2.92/-Total Interest Earned for the month = Rs. 71.93/-This is nearly 5 times as that of the interest earned by the old method.
Calculate the amount of interest on a loan of 3200 at 6 percent interest for 60 days using the ordinary interest method?
32
What is the amount of interest on a loan of 3200 at 6 percent interest for 60 days using the ordinary interest method?
[{(3200*6)/100}/365]*60
How can I calculate the daily interest rate for a financial investment?
To calculate the daily interest rate for a financial investment, divide the annual interest rate by 365 (the number of days in a year). This will give you the daily interest rate.
How can I use the 30/360 interest calculator in Excel to determine the total interest accrued on a loan or investment?
To use the 30/360 interest calculator in Excel, you can input the loan amount, interest rate, and the number of days to calculate the total interest accrued. Excel will automatically calculate the interest based on a 30-day month and a 360-day year, providing you with the total interest amount on the loan or investment.
What is the exact and ordinary interest computation?
t= numbers of days ordinary interest= Pr no. of days/ 360 days exact interest= Pr no. of days/ 365 days
How many days in a year are to be considered For daily sales calculation?
360 days
What is the circulation calculation of the Earth and the Sun?
365 Days
How many days are there between June 8 1996 and April 6 2011?
298 days are between June 19 2009 and April 13 2010.
What happens on a simple interest loan in leap year?
Standard practice for all finance companies to calculate a year is either 360 or 365 days. Finance companies do not change their yearly calculation on a leap year.
How was the calculation of days of year done?
Via astronomical measurements.
How many days are there between January 19 and February 20?
74 days are between January 17th and April 1st 2010.
How many days between July 3 2011 and January 20 2012?
Including the start and end dates in the calculation, there are 231 days between the two dates.
How many days are there between September 14 and November 15?
Straddling a non-leap year, and including the start and end dates in the calculation, there are 288 days between the two dates. Straddling a leap year, and including the start and end dates in the calculation, there are 289 days between the two dates.
How are business days counted when determining project timelines?
Business days are typically counted as Monday through Friday, excluding weekends and holidays, when determining project timelines.
