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Banks with compound interest

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JGoldman10
 
Reply Thu 13 Oct, 2005 04:51 pm
Are there any banks that let you compound your interest continually?
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Type: Discussion • Score: 0 • Views: 1,028 • Replies: 6
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Sturgis
 
  1  
Reply Thu 13 Oct, 2005 04:53 pm
Laughing Laughing Laughing Laughing Laughing Laughing Laughing Laughing Laughing Laughing Laughing Laughing Laughing Laughing Laughing Laughing Laughing Laughing Laughing Laughing Laughing Laughing Laughing




Er, I mean possibly although I have no idea where such a rarity would be.





(If you find it be sure to let me know)
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fishin
 
  1  
Reply Thu 13 Oct, 2005 05:01 pm
No. Continuous compounding is used to explain a theory but it isn't very practical for use outside of theoretical discussions.
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flyboy804
 
  1  
Reply Fri 14 Oct, 2005 08:26 am
Even the commonly used daily compounding is not much of an increase over monthly compounding on a percentage basis.
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JGoldman10
 
  1  
Reply Tue 1 Nov, 2005 05:15 pm
So that formula that they teach people in Calculus textbooks is Hypothetical for interest compounded continually:

A=P*(e raised to the power rt)

Where A=amount
P=principle
r=rate
t+time
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JGoldman10
 
  1  
Reply Tue 1 Nov, 2005 05:15 pm
So that formula that they teach people in Calculus textbooks is Hypothetical for interest compounded continually:

A=P*(e raised to the power rt)

Where A=amount
P=principle
r=rate
t=time
0 Replies
 
JGoldman10
 
  1  
Reply Tue 1 Nov, 2005 05:16 pm
That double post was an accident.
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