Daily Interest Calculator
Parameter | Description | Example Value |
---|---|---|
Principal Amount | The initial amount of money deposited or invested. | $1,000 |
Annual Interest Rate | The annual interest rate applied to the principal amount. | 5% |
Number of Days | The number of days the money is invested or borrowed for. | 30 days |
Daily Interest | The amount of interest accrued daily (Principal Amount * (Annual Interest Rate / 365) * Number of Days). | $4.11 |