In this case, the amount of interest will be different for February and March. Interest is calculated based on the number of days. The holder of such an account can use the APY to compare accounts. It is the rate institutions must quote in the US for interest bearing accounts. Interest and future value are calculated (FV is starting amount plus the interest.) Annual percentage yield is used for comparing investments. If you need to know the interest for 31 days, then enter 31 for the number of days and don't worry about the dates. The above means you can calculate interest for a specific number of days and not worry about what the dates are. If you enter a negative number of days the start date will be updated. If you enter a positive number of days, the end date will be updated. Enter an amount and a nominal annual interest rate.ĭate Math: If you change either date, days between dates will be calculated.
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