Usually, when talking about deposits and compound interest (when the interest accrued not on the initial but on the accreted amount), monthly, quarterly or semi-annual interest calculations are used.
Sometimes the questions appear - what if the rate is indicated for a month and the interest is accrued daily? In a mathematical sense, it's the same thing, but there is no calculator on our website that would allow to set, for example, 30 percent accruals for one month at a monthly rate of 16%. The calculator below now allows you to do this.
This calculator just shows the calculation by compound interest formula
where you can set all the parameters