Daily Interest Calculator
Calculate the interest accrued on a daily basis for your investments or loans.
Calculator
Results
Daily Interest
$1.37
Total Interest
$41.10
Total Amount
$10041.10
Principal: $10000Interest: $41.10
How It Works
The Daily Interest Calculator uses the following formula to calculate interest:
Daily Interest = (Principal * Annual Rate / 365) * Number of Days
Where:
- Principal: The initial amount of money
- Annual Rate: The yearly interest rate (as a percentage)
- Number of Days: The period for which interest is calculated
This calculator assumes simple interest, meaning that interest is not compounded. In reality, many financial products compound interest daily, which would result in slightly higher interest over time.
How to Use
- Enter the principal amount (initial investment or loan amount) in the "Principal Amount" field.
- Input the annual interest rate as a percentage.
- Specify the number of days for which you want to calculate interest.
- The calculator will automatically update the results based on your inputs.
- Review the daily interest, total interest, and total amount. The chart shows how the amount grows over the specified period.
- Adjust any input using either the text fields or the sliders to see how it affects the results.