How Do I Calculate Using A Daily Interest Rate?

The formula of compound interest is as follows:

A=P(1+r/n)^nt

Where,

• P = principal amount (initial investment)
• r = annual interest rate (as a decimal)
• n = number of times the interest is compounded per year
• t = number of years
• A = amount after time t

by putting values in this formula

A=2500(1+1.3/365)^1x365
A=2500(9.758)^365

You can get the exact value by using the scientific calculator.

Calculate daily compounded Interest rate:
P=30000
r=7%