# Daily Compound Interest Formula

Compound interest (CI) is simply defined as the "interest to interest". CI is calculated for daily, monthly, quarterly and yearly basis. Use the below daily compound interest formula to calculate the compound interest acquired daily for a given principal amount and the rate of interest. From the compounded daily formula , you could see that compound interest is calculated for a year and is converted to daily basis. Estimate your daily compound interest for your investment on your own.

# Compounded Daily Formula

#### Formula:

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

Where,

I = Daily Compound Interest
P = Principal
r = Rate
T = Time

#### Related Calculator:

Use this daily compound interest formula and simplify your compound interest calculations. You can make an estimate of your daily compound interests for your deposits using this compound interest formula. You can also click on the related calculator to do your interest calculations within the blink of an eye.