# Daily Compound Interest Calculator

Compound interest (CI) is a interest charged to the principal and the accumulated interest for the previous periods. In other words, the interest acquired over the past periods will be summed up with the principal forming a new accumulated principal amount. CI can be calculated on both daily and monthly basis. Here is the online daily compound interest calculator to calculate the CI on a daily basis. Make use of this daily compounding calculator manage your money in an effective way.

## Daily Compounding Calculator

Compound interest (CI) is a interest charged to the principal and the accumulated interest for the previous periods. In other words, the interest acquired over the past periods will be summed up with the principal forming a new accumulated principal amount. CI can be calculated on both daily and monthly basis. Here is the online daily compound interest calculator to calculate the CI on a daily basis. Make use of this daily compounding calculator manage your money in an effective way.

Code to add this calci to your website

#### Formula:

I = P (1 + (r / 365))^{(365 x T)} - P
**Where,**
I = Daily Compound Interest
P = Principal
r = Rate
T = Time
### Example:

Calculate the daily compound interest of an investment which is made for a period of 2 years with the principal amount of Rs. 20000 at an interest rate of 5 %.

#### Solution:

I = P (1 + (r / 365))^{(365 x T)} - P

= 20000 (1 + (0.05 / 365))^{(365 x 2)} - 20000

Daily Compound Interest = Rs. 2103.27