MC-013-INFO Information Sheet for Calculating …

Step 4: Calculate the new daily interest rate Daily interest would then accrue at a rate of $1.17/day. $4,274 x 10% = $427.40 interest earned per year. $427.40/365 = $1.17 interest earned per day. The amount of interest that accrues in the next 100 days: 100 days x $1.17 = $117. The new daily interest would then accrue on the principal going ... ................
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