Vovke/loan-payments-calculator

Where can I get dailyInterestRate?

phuongphally opened this issue · 2 comments

phuongphally commented

How to calculate it?

$dailyInterestRate = 0.000383;

Vovke commented

Hey, in order to calculate dailyInterestRate, you can do following, assuming your annual rate is 10%

  1. Convert the percentage rate to a decimal: 10 ÷ 100 = 0.10
  2. Convert the annual rate to a daily rate: 0.10 ÷ 365 = 0.00027397
    hope that helps
phuongphally commented

@Vovke Thank you.