Understanding Daily Interest Calculation

What is the formula for calculating daily interest on a loan? • Learn how to calculate daily interest on a loan with this concise and captivating video. Understanding this formula is crucial for effective financial management, whether you're a borrower or a lender. Discover what daily interest is, the formula to calculate it, and see a real-life example. This powerful tool will help you understand how your loan balance evolves over time and plan your repayments accordingly. Don't miss out on this essential financial knowledge!

00:00 • Understanding Daily Interest Calculation
00:20 • What is Daily Interest?
00:41 • The Formula for Daily Interest
01:28 • An Example