Daily periodic rate
- Listed: August 7, 2022 7:30 am
- Expires: 99358 days, 13 hours
Description
Daily periodic rate
Some card issuers calculate interest on the account using a daily periodic interest rate, which is used to calculate interest by multiplying the rate by the amount owed at the end of the day. This interest amount is then added to the previous day’s balance, which means that interest is compounded on a daily basis.
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Listing ID: 13562ef69fcae1e5