Re: is there a formula for calculating daily compounding on a CD?

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From: "Daniel CHEN" <YjdChen@xxxxxxxxx>
Date: Thu, 1 Jun 2006 15:52:20 -0500

assume annual rate is r (like 0.1) and compounded daily.
the APY = (1+r/365)^365-1, format as percentage.

--
Best regards,
---
Yongjun CHEN
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"bryantsheriff" <bryantsheriff@xxxxxxxxxxxxxxxxxxxxxxxxx> wrote in message
news:359032DB-D8D2-470E-8B30-2A402F8BCEAE@xxxxxxxxxxxxxxxx

i am trying to calculate daily compounding interest on a certificate of
deposit, but don't want to take up 365 lines to do so. is there formula
that
can calculate it more simply?

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